Piyush Goyal meets top corporate leaders in Singapore to discuss investment, bilateral trade

Trade and industry minister Piyush Goyal engaged with top executives from leading global firms in Singapore on Sunday, setting the stage for the second India-Singapore Ministerial Roundtable (ISMR) and focusing on bolstering bilateral trade and investment ties, according to a statement from the commerce ministry.

The meetings, held with key figures from Temasek Holdings, DBS Bank, OMERS, Keppel Infrastructure, and TVS Motor Company, centred on deepening economic collaboration between the two nations. Discussions highlighted the strategic importance of enhancing bilateral trade and exploring new avenues for investment, the ministry said in a statement.

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Goyal's visit to Singapore precedes the ISMR, slated for 26 August, which aims to fortify the already robust economic relationship between India and Singapore. The roundtable will emphasize harnessing India’s economic momentum and Singapore’s investment potential.

Key topics of discussion included scaling up investments in India’s small and medium enterprise (SME) sector, improving the investment climate, and promoting sustainable development through decarbonization initiatives.

"There was also a focus on identifying synergies for family-owned businesses amid a rapidly evolving global landscape. These dialogues are pivotal in reinforcing the mutual commitment to fostering innovation and economic growth," the statement added.

Singapore remains a critical partner for India, being the largest source of foreign direct investment (FDI) during FY24, with inflows reaching approximately $11.77 billion. The city-state was also India’s sixth-largest global trade partner in FY25, with bilateral trade amounting to $35.61 billion.

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Following his meetings, Goyal took to the social media platform X, formerly known as Twitter, to share, "Wrapped up a very fruitful day in Singapore today, with interactions and discussions with leaders of major global investment firms having over US$500 billion of assets under management." He added, “Positioned India as an attractive investment destination and invited these multinationals to be a part of our development journey.”