Commerce Minister Piyush Goyal Holds Meetings in Singapore to Strengthen Trade and Investment Ties

Singapore: Commerce Minister Piyush Goyal held separate meetings in Singapore to discuss ways to strengthen India-Singapore trade and investment ties across sectors, including healthcare as both the countries concluded the fourth ministerial roundtable on Friday.

Taking to his social media account, Goyal posted that he met with Singapore Business Federation Chairman Mark Lee and discussed opportunities to strengthen business-to-business engagement between India and Singapore to unlock new economic opportunities.

"Emphasised the vital role of our business communities in driving stronger economic partnerships, fostering greater collaboration & unlocking new opportunities for businesses in both countries," he wrote in his post.

He met Temasek Holdings CEO Dilhan Sandrasegara to discuss ways to deepen investment ties and strengthen Temasek's participation in India's growth story.

"Discussed opportunities to further deepen investment linkages and strengthen Temasek's engagement with India's growth story. Reiterated how India's strong economic fundamentals, investment-led reforms and expanding opportunities across sectors offer significant potential for long-term partnerships," the post reads.

Goyal also met Fortis Healthcare Chairman Leo Puri and IHH Healthcare Group CEO Dr Prem Nair in Singapore to discuss opportunities to deepen India-Singapore cooperation in healthcare and strengthen partnerships in the sector.

"We discussed opportunities to deepen India-Singapore cooperation in healthcare and strengthen partnerships in this important sector," he said, adding, "India's growing healthcare ecosystem offers significant opportunities for global investors and institutions seeking to participate in the country's development journey."

In a separate development, Goyal addressed the India-Singapore Business Forum and held meetings with potential investors and industry partners. He also visited a special exhibition of Indian agricultural products along with Singapore Minister of State for Foreign Affairs and Trade and Industry Gan Siow Huang, aimed at promoting Indian agri-exports to Singapore.

Singapore was India's largest source of foreign direct investment (FDI) in FY2025-26, accounting for USD 19.8 billion in inflows, according to the Commerce Ministry.

Also, the cumulative FDI from Singapore stood at USD 194.68 billion between April 2000 and March 2026. Bilateral trade between India and Singapore has also expanded significantly, rising from USD 6.7 billion in FY2004-05 to USD 36.1 billion in FY2025-26, according to the ministry.