Indian Economy News

Union Minister of Commerce & Industry Mr. Piyush Goyal leaves for Singapore for 4th India-Singapore Ministerial Roundtable and 4th India-Singapore Business Roundtable

Union Minister of Commerce and Industry Mr. Piyush Goyal is visiting Singapore from August 19-21, 2026, for the 4th India-Singapore Ministerial Roundtable (ISMR) and the 4th India-Singapore Business Roundtable (ISBR), as part of continued high-level engagement under the India-Singapore Comprehensive Strategic Partnership. An Indian business delegation comprising around 70 senior business leaders from technology, software and AI, manufacturing and engineering, infrastructure and sustainability, financial services and FinTech, healthcare and life sciences, food and agriculture, logistics, maritime and trade and professional services is accompanying the Minister. The delegation will undertake B2B, G2B and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development, including interactions with Centres of Excellence and visits to skilling institutions. The 4th ISMR will be held on August 20 alongside the 4th ISBR, followed by an MoU signing ceremony and a lunch hosted by the Deputy Prime Minister of Singapore Mr. Gan Kim Yong.

The Minister will participate in the ISMR alongside Ms. Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, Dr. Subrahmanyam Jaishankar, Union Minister for External Affairs, and Mr. Ashwini Vaishnaw, Union Minister for Railways, Information and Broadcasting, and Electronics and Information Technology. The visit will also include engagements with Singaporean leadership, including a meeting with Prime Minister of Singapore Mr. Lawrence Wong, as well as Government-to-Business discussions with leading financial, technology, infrastructure and healthcare organisations. Union Minister of Commerce and Industry Mr. Piyush Goyal will also jointly visit an APEDA-FairPrice initiative promoting Indian agri-food exports in Singapore and participate in the India-Singapore Business Forum organised by FICCI. Singapore was India’s largest source of FDI in FY26, with inflows of Rs. 1.89 lakh crore (US$ 21.39 billion). Cumulative FDI inflows from Singapore reached Rs. 18.55 lakh crore (US$ 194.68 billion) during April 2000-March 2026. Bilateral trade increased from Rs. 30,116.50 crore (US$ 6.7 billion) in FY2004-05 to Rs. 3.19 lakh crore (US$ 36.1 billion) in FY2025-26, reinforcing Singapore’s importance as a trade and investment partner.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.