Nirmala Sitharaman Leads Key Ministerial Team To Singapore To Deepen Trade And Investment Ties
The ISMR will be held alongside the India-Singapore business roundtable, providing a parallel forum for business leaders from the two countries: Reports
NEW DELHI: Union finance minister Nirmala Sitharaman, who is leading the Indian ministerial delegation with external affairs minister S Jaishankar, commerce and industry minister Piyush Goyal, and minister of state for electronics and IT and commerce and industry Jitin Prasada, is in Singapore for high-level talks aimed at deepening economic ties with the Southeast Asian financial hub. The fourth meeting of the India-Singapore Ministerial Roundtable (ISMR) is scheduled for August 20, the government said on Wednesday.
According to official statements, a 70-member Indian business delegation accompanying Goyal will seek new investment, trade and technology partnerships. “Goyal is on a three-day visit to Singapore from August 19 and is leading about 70 senior business leaders from sectors, including artificial intelligence, technology, manufacturing, infrastructure, financial services, healthcare, food and agriculture, logistics, maritime and trade,” the government said.
The ISMR will be held alongside the India-Singapore business roundtable, providing a parallel forum for business leaders from the two countries. The programme will also include an memorandum of understanding (MoU)-signing ceremony. “The 4th ISMR will build on the progress made under these pillars and explore new opportunities to further strengthen the India-Singapore economic partnership," the finance ministry said in a post on X.
As per the commerce ministry, Indian ministers are also scheduled to engage with their Singaporean counterparts and senior Singaporean leaders. “Goyal will call on Singapore Prime Minister Lawrence Wong during the visit. The business delegation will hold government-to-business and business-to-business engagements focused on investment, market access, technology collaboration, partnerships and talent development,” the ministry said.
The ISMR, established in 2022, is the main high-level economic mechanism between the two countries and covers advanced manufacturing, connectivity, digitalisation, healthcare and medicine, skills development and sustainability. The fourth round will review progress in these areas and identify new opportunities to strengthen the economic partnership.
Singapore is a major source of foreign capital for India and a key economic partner in Southeast Asia. India is seeking to build on those investment links while expanding cooperation in technology, manufacturing, digitalisation and other emerging sectors. Bilateral trade has grown substantially since the implementation of the India-Singapore Comprehensive Economic Cooperation Agreement, rising from $6.7 billion in 2004-05 to $36.1 billion in 2025-26, according to government data.
