India and Singapore are expected to take their economic partnership to a new phase as Commerce and Industry Minister Piyush Goyal met Singapore Prime Minister Lawrence Wong during a three-day official visit, according to ANI. Piyush Goyal and Wong held talks on strengthening trade and investment ties. Goyal said the engagement underlined the strong momentum and potential in the partnership. The Commerce Ministry noted that India’s reforms and steady growth continue to draw global investors, with Singapore among its top FDI sources.
Goyal also met Deputy Prime Minister and Trade Minister Gan Kim Yong and Foreign Minister Vivian Balakrishnan. Talks with Gan focused on deepening cooperation in trade, manufacturing and industry, including supply chains and technology partnerships. With Balakrishnan, Goyal reviewed regional and global priorities, reaffirming trust and cooperation in the Indo-Pacific.
Investment partnerships with major institutions
On the investment front, Goyal met senior leadership from Singapore’s sovereign funds and leading companies. He held discussions with Bryan Yeo, Group Chief Investment Officer of GIC, and Dilhan Pillay, CEO of Temasek, to explore scaling up India-focused portfolios across infrastructure, renewable energy, financial services and urban development.
Add Zee Business as a Preferred Source
“Had a good meeting with Mr Dilhan Pillay, CEO of Temasek. Discussed key opportunities to further strengthen investment ties between India and Singapore,” Goyal wrote on X (formerly twitter).
The meetings reaffirmed Singapore’s strong institutional interest in India’s growth sectors and its expanding role in supporting long-term infrastructure and clean energy projects.
Business roundtable on manufacturing FDI
A key highlight of the visit was the Business Roundtable on Foreign Direct Investment in manufacturing. The session brought together business chambers such as AmCham, EuroCham and the German Chamber of Industry and Commerce, along with senior corporate leaders.
Goyal outlined India’s focus on manufacturing growth, ease-of-doing-business reforms and the government’s commitment to make India a global production hub. He invited Singaporean and global investors to participate in India’s evolving industrial value chains.
The minister also held meetings with Singaporean companies such as SIA Engineering, CapitaLand Investment and Royal Golden Eagle. At SIA Engineering, the focus was on India’s fast-growing Maintenance, Repair and Overhaul (MRO) sector and plans for a joint skilling centre. CapitaLand discussed renewable energy solutions for data centres in Maharashtra and possible industrial park projects.
