India, Singapore review ties

India and Singapore on Wednesday explored ways to further expand their bilateral cooperation in areas of advanced technology, trade, connectivity and digitisation during a meeting of their top ministers.

The deliberations took place at the third India-Singapore Ministerial Roundtable (ISMR) in New Delhi.

External Affairs Minister S Jaishankar, Commerce Minister Piyush Goyal, Finance Minister Nirmala Sitharaman and Electronics and Information Technology Minister Ashwini Vaishnaw held the ISMR with six Singaporean ministers.

The Singaporean delegation was led by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong and comprised National Security and Home Affairs Minister K Shanmugam, Foreign Minister Vivian Balakrishnan, Digital Development and Information Minister Josephine Teo, Minister for Manpower Tan See Leng and Acting Minister for Transport Jeffrey Siow.

"The ISMR had a productive interaction with the India Singapore Business Roundtable #ISBR delegation. Synergy between Government & Industry is key to unlocking the next phase of India-Singapore ties," Jaishankar said on X.

The inaugural ISMR was held in New Delhi in September 2022 and the second meeting was held in Singapore in August 2024.

India-Singapore relations were elevated to comprehensive strategic partnership during Prime Minister Narendra Modi's visit to the country in September last year.

Singapore is India's largest trading partner in ASEAN (Association of Southeast Asian Nations). It is the leading source of FDI, among the largest sources of external commercial borrowings and foreign portfolio investment.

Singapore was India's sixth-largest trading partner in the financial year 2024-25. India's imports from Singapore in 2024-25 were $21.2 billion, while the volume of exports to the country was $14.4 billion.

Over the past 10 years, Singapore's annual investments in India ranged between $10 billion and $15 billion.