World

India’s Finance Minister to Visit Singapore for Investment Talks

By Harsh Kumar

Union Finance Minister Nirmala Sitharaman will travel to Singapore from 9 to 11 October for a three‑day official visit aimed at deepening investment ties with the country, one of India’s largest sources of foreign direct investment. During the trip, Sitharaman will meet Singapore’s political leaders—President Tharman Shanmugaratnam, Prime Minister Lawrence Wong, Deputy Prime Minister Gan Kim Yong and Foreign Minister Vivian Balakrishnan—and will hold a roundtable with hedge‑fund and portfolio‑fund managers. She will also conduct government‑to‑business meetings and one‑to‑one discussions with heads of major global financial institutions, investment firms and healthcare companies.

The finance ministry said the meetings will focus on the India‑Singapore Comprehensive Strategic Partnership and the outcomes of the India‑Singapore Ministerial Roundtable (ISMR). Topics include trade and investment, digital financial connectivity, capital markets, taxation, semiconductors, advanced manufacturing, skilling and aviation.

Singapore is India’s largest source of FDI, with cumulative inflows of about $194.68 billion between April 2000 and March 2026. Singaporean institutional investors such as the Government of Singapore Investment Corporation (GIC) and Temasek Holdings have significant stakes across the Indian economy. Sitharaman will meet the chief executives of GIC, Temasek, DBS Bank, Standard Chartered Bank, British International Investment, IHH Healthcare, Mitsubishi UFJ Financial Group’s Asia‑Pacific operations, B Capital and HPS Investment Partners. She will also speak with the chairperson of Skandinaviska Enskilda Banken, a director on the board of Mitsui & Co., and the executive chairman and founding partner of TPG.

The finance ministry will use platforms such as the National Investment and Infrastructure Fund (NIIF) and GIFT City to attract greater participation from Singaporean capital, including through investment vehicles and funds. It will facilitate connections between interested Singaporean investors and Indian companies, financial institutions and state governments, and provide support to advance identified investment opportunities.

The visit underscores India’s effort to translate its strategic partnership with Singapore into increased investment flows, business partnerships and tangible economic outcomes. Singapore is India’s largest trading partner in the Association of Southeast Asian Nations (ASEAN). Bilateral trade expanded after the Comprehensive Economic Cooperation Agreement (CECA), rising from $6.7 billion in fiscal year 2004‑05 to ₹36.1 billion in FY26. Singapore accounts for about 2.96 % of India’s overall trade. In FY26, India’s exports to Singapore were $11.86 billion, while imports from Singapore were $24.24 billion, resulting in a trade deficit of $12.38 billion.