India, Singapore discuss ways to boost trade, investment

Union Minister of Commerce and Industry Piyush Goyal held a high-level engagement with Singapore’s Prime Minister Lawrence Wong and discussed ways to enhance trade and investment between the countries. Goyal was on a three-day visit to Singapore to strengthen strategic and economic partnership.

“Goyal called on Lawrence Wong, Prime Minister of Singapore, where discussions focused on strengthening trade and investment linkages, enhancing cooperation in innovation and digital connectivity, and exploring new opportunities in sustainable development,” the Ministry of Commerce and Industry said on Friday.

The visit underscored India’s robust growth trajectory, investor-friendly reforms, and vast opportunities in manufacturing, infrastructure, financial services and the green economy.

Goyal also held meeting with Minister of Foreign Affairs Vivian Balakrishnan where both sides reaffirmed strategic trust and alignment on regional and global economic priorities. Discussions with Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong focused on deepening industrial and trade cooperation, the ministry said.

Goyal took part in a business roundtable on foreign direct investment in the manufacturing sector, attended by leaders from AmCham, EuroCham, and the German Chamber of Industry & Commerce. Delivering the keynote address, Goyal emphasised India’s pro-investment policies and its emergence as a global manufacturing hub, inviting Singaporean businesses to leverage these opportunities.

The Commerce Minister also held strategic meetings with Singapore’s corporate giants. At SIA Engineering Company, talks centered on India’s booming maintenance, repair & overhaul (MRO) sector and establishing an India-Singapore Skilling Centre for MRO professionals, the ministry of commerce and industry said. CapitaLand Investment expressed enthusiasm for expanding renewable energy solutions for data centres in Maharashtra and exploring industrial parks and worker housing.