Piyush Goyal discusses investment opportunities with top firms in Singapore

28 Aug, 2024

Piyush Goyal discusses investment opportunities with top firms in Singapore

Commerce and Industry Minister Piyush Goyal recently met with top global business leaders in Singapore, including representatives from Temasek Holdings, DBS Bank, OMERS, Keppel Infrastructure, and TVS Motor Company, to discuss enhancing investment opportunities between India and Singapore. These meetings aimed to explore ways to increase investments, particularly in the SME sector, and to leverage India's economic growth for mutual benefit. Key areas of focus included scaling up investments, improving India's investment climate, supporting sustainable development, and finding synergies for family-owned businesses in a shifting global landscape.

During his visit, Minister Goyal also explored potential collaborations with Singapore's Institute of Technical Education (ITE), focusing on developing advanced learning environments. Singapore remains a significant source of foreign direct investment for India, with USD 11.77 billion inflows reported in the last fiscal year. In bilateral trade, Singapore ranked as India’s 6th largest global trade partner in 2023-24, with total trade amounting to USD 35.61 billion.

On social media, Goyal highlighted the productive discussions with global investment leaders and the opportunities for Temasek and other firms to contribute to India's development. He emphasized India's attractiveness as an investment destination and invited multinational firms to participate in India’s growth journey.