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Union Minister for Commerce and Industry, Piyush Goyal, engaged in discussions on bilateral trade and investment with global business leaders in Singapore.
Among those with whom he held discussions on August 25 included representatings Temasek holdings, DBS bank, OMERS, Keppal infrastructure and TVS Motor Company. According to the Ministry of Commerce and Industry, Goyal arrived in Singapore on Sunday, ahead of the 2nd India Singapore Ministerial Roundtable (ISMR) scheduled for August 26. Goyal posted on X, "Wrapped up a very fruitful day in Singapore today, with interactions and discussions with leaders of major global investment firms having over USD 500 billion of assets under management. Positioned India as an attractive investment destination and invited these multinationals to be a part of our development journey." https://x.com/PiyushGoyal/status/1827713490951504321?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1827713490951504321%7Ctwgr%5Ea9fd40a4eb3f580883392d8d5772dee0d763268f%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fpib.gov.in%2FPressReleasePage.aspx%3FPRID%3D2048809 The meetings focused on enhancing investment opportunities between India and Singapore, emphasizing mutual growth and collaboration across various sectors. Key areas of discussion included scaling up investments, particularly in the SME sector, improving India's investment climate, promoting sustainable development through decarbonization, and exploring synergies for family-owned businesses in the evolving global landscape. These interactions highlight the commitment to strengthening economic ties between the two nations for shared growth and innovation. During his visit, Goyal also toured the Institute of Technical Education (ITE) Headquarters and ITE College Central in Singapore, exploring potential collaborations to develop advanced learning environments. These initiatives aim to equip young talent with future-ready skills tailored to diverse industry needs. He visited facilities such as the Aerospace and Smart Manufacturing Hubs, gaining insights into continuing education and skill development. These discussions and visits underscore the robust and growing relationship between India and Singapore, emphasizing the strategic importance of their economic and educational partnerships in driving future growth. Singapore has been a source of FDI for India, contributing an estimated USD 11.77 billion in inflows during 2023-24. In bilateral trade, Singapore was India's 6th largest global trade partner in 2023-24, with total trade amounting to USD 35.61 billion. (ANI)
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