From AI to FDI: India, Singapore Seek Bigger Business and Technology Partnerships
India-Singapore economic ties are set for another push as Finance Minister Nirmala Sitharaman and Commerce and Industry Minister Piyush Goyal lead a delegation for the fourth India-Singapore Ministerial Roundtable (ISMR) on August 20.
The talks come with momentum. Bilateral trade has climbed from USD 6.7 billion in 2004-05 to USD 36.1 billion in 2025-26, while Singapore became India’s largest source of foreign direct investment last fiscal year, contributing USD 19.8 billion. Cumulative Singaporean FDI reached USD 194.68 billion through March 2026, or 24.72 per cent of India’s total FDI inflows.
The ISMR will review cooperation across six pillars: advanced manufacturing, connectivity, digitalisation, healthcare and medicine, skills development, and sustainability. The objective is to move beyond broad commitments towards partnerships, technology collaboration and stronger supply chains.
A key feature is the accompanying 70-member Indian business delegation, representing AI and software, manufacturing and engineering, infrastructure and sustainability, financial services and fintech, healthcare and life sciences, agriculture, logistics, maritime services and professional services.
Business leaders will pursue B2B, government-to-business and engagements focused on investment, market access, technology partnerships and talent development. They will also interact with Singapore’s Centres of Excellence and skilling institutions, helping Indian companies adapt advanced technologies and develop specialised manpower.
Goyal’s meetings with groups including Temasek Holdings, Keppel Infrastructure, IHH Healthcare, STT GDC and the Singapore Business Federation are designed to identify concrete investment and partnership opportunities. A Family Office Roundtable will add another channel for capital mobilisation.
The programme will include the fourth India-Singapore Business Roundtable and an MoU-signing ceremony. While the government has not yet disclosed the agreements, potential outcomes could include cooperation in semiconductors, AI, advanced manufacturing, digitalisation, fintech, healthcare, green infrastructure and skills.
The APEDA-FairPrice initiative also aims to expand Indian agri-food exports in Singapore’s retail market.
Together, these efforts could deepen the Comprehensive Strategic Partnership by linking capital with technology, talent, manufacturing and market access. The broader ambition is to make India-Singapore ties a platform for innovation, resilient supply chains and Asian business opportunities.