Union Commerce and Industry Minister Piyush Goyal has begun a three-day visit to Singapore as India seeks to strengthen its economic and commercial partnership with the Southeast Asian country. The visit, scheduled from August 19 to 21, comes under the framework of the fourth India-Singapore Ministerial Roundtable, which brings senior officials from both countries together to advance cooperation across key sectors.
Goyal is traveling with a delegation of about 70 senior business representatives. The group includes leaders from technology, artificial intelligence, manufacturing, infrastructure, financial services, healthcare, agriculture, logistics, maritime industries and professional services. Their discussions will focus on creating new commercial partnerships, expanding investment opportunities, improving market access and advancing technology and skills cooperation.
On August 20, Goyal is scheduled to join Finance Minister Nirmala Sitharaman, External Affairs Minister S. Jaishankar and Electronics and Information Technology Minister Ashwini Vaishnaw for the fourth India-Singapore Ministerial Roundtable. The meeting will coincide with the India-Singapore Business Roundtable and will be followed by the signing of memorandums of understanding and a luncheon hosted by Singapore’s deputy prime minister.
The minister is also expected to meet Singapore Prime Minister Lawrence Wong at the Istana. His schedule includes discussions with executives and representatives from major institutions, including Temasek Holdings, Keppel Infrastructure, IHH Healthcare and the Global Finance & Technology Network. He will also participate in a Family Office Roundtable and engage with the Singapore Business Federation and other business organizations.
During the visit, Goyal will jointly attend an APEDA-FairPrice initiative at City Square Mall with Singapore’s Minister of State for Foreign Affairs and Trade and Industry Gan Siow Huang. He is also scheduled to participate in an India-Singapore Business Forum organized by FICCI at the INSEAD Asia Campus and deliver a keynote address at the ICAI ASEAN Conference 2026.
Singapore remains a major economic partner for India. According to the Commerce Ministry, Singapore contributed $19.8 billion in foreign direct investment during FY2025-26, making it India’s largest FDI source that year. Cumulative inflows reached $194.68 billion between April 2000 and March 2026.
Bilateral trade has also expanded significantly, rising from $6.7 billion in FY2004-05 to $36.1 billion in FY2025-26 following the India-Singapore Comprehensive Economic Cooperation Agreement.
