Finance Minister Nirmala Sitharaman met Singapore Business Federation (SBF) Chairman Mark Lee in Singapore on Saturday and discussed strengthening business engagement between the two countries through targeted business matching, trade delegations, and cooperation in key sectors, according to the Finance Ministry.
The discussions focused on facilitating visits by Singapore business delegations to India to enable meaningful interactions with Indian businesses and state governments, with a view to expanding bilateral commercial opportunities, the ministry said in a post on X.
The upcoming Singapore ASEAN Chairmanship in 2027 offers an opportunity to build further momentum in bilateral and regional economic cooperation, it said.
During the meeting, SBF highlighted potential areas for collaboration, including semiconductor supply chains, maintenance, repair and overhaul (MRO), food security and food processing.
She also met with Monetary Authority of Singapore (MAS) Deputy Managing Director Leong Sing Chiong.
The MAS team presented its approach on tokenization, including how the MAS is fostering the development of digital asset ecosystem, the ministry said in another post.
Bilateral discussions explored potential efficiency gains from tokenisation, the importance of interoperability and trusted settlement arrangements, and associated regulatory challenges, it said.
Both sides reaffirmed their commitment to collaborating closely on such emerging technologies, it added.