India and Singapore discuss expanding economic collaboration
Commerce and Industry Minister Piyush Goyal met with key business leaders in Singapore on Sunday as part of the 2nd India-Singapore Ministerial Roundtable (ISMR). The discussions focused on enhancing trade and investment opportunities between the two nations, with particular emphasis on small and medium enterprises (SMEs), sustainable development, and family-owned businesses.
Goyal’s visit aims to fortify economic relations and foster collaborative ventures across various sectors. Representatives from prominent organizations such as Temasek Holdings, DBS Bank, OMERS, Keppel Infrastructure, and TVS Motor Company engaged in talks centered on leveraging India’s economic growth to boost investment opportunities. Key topics included improving the investment climate and advancing sustainable initiatives like decarbonization.
In addition to business discussions, Goyal visited the Institute of Technical Education (ITE) Headquarters and ITE College Central. The visit highlighted potential partnerships for developing advanced learning environments, focusing on equipping young talent with skills needed to meet the demands of evolving industries. The tour featured the Aerospace and Smart Manufacturing Hubs, underscoring the importance of skill development and continuing education.
Singapore remains a vital source of Foreign Direct Investment (FDI) for India, with $11.77 billion in inflows during the 2023-24 fiscal year. The country also stands as India’s sixth-largest global trade partner, with total trade between the two nations reaching $35.61 billion.
