Piyush Goyal leads 70-member delegation to Singapore to boost trade, investment

Commerce and Industry Minister Piyush Goyal is leading a 70-member business delegation to Singapore to strengthen trade and investment ties between the two countries, an official statement said on Wednesday.

The three-day visit begins from August 19.

Goyal will participate in the fourth India-Singapore Ministerial Roundtable (ISMR) on August 20 alongside Finance Minister Nirmala Sitharaman, External Affairs Minister Subrahmanyam Jaishankar, Railways, Information and Broadcasting, and Electronics and Information Technology Minister Ashwini Vaishnaw.

The ministers will engage with their Singaporean counterparts and other senior Singaporean leaders during the visit, the Commerce Ministry said.

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Business leaders from key sectors join visit

The business delegation includes representatives from AI, manufacturing, infrastructure, financial services, healthcare, food and agriculture, logistics, maritime and trade.

The engagements will focus on partnerships, investment, market access, technology collaboration and talent development, it said.

Singapore remains key investment partner

Singapore remains a key economic partner and a major source of investment for India.

In 2025-26, Singapore was the largest source of FDI into India (USD 19.8 billion). Cumulative FDI inflows from Singapore stood at USD 194.68 billion during April 2000-March 2026, accounting for 24.72 per cent of India's total FDI inflows.

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Singapore is also India's largest trading partner within ASEAN and remains a significant source of External Commercial Borrowings and Foreign Portfolio Investment.

Bilateral trade has expanded substantially following the conclusion of the India-Singapore Comprehensive Economic Cooperation Agreement (CECA), increasing from USD 6.7 billion in FY 2004-05 to USD 36.1 billion in FY 2025-26.