Nirmala Sitharaman to meet Singaporean leaders, global investors on three-day visit | Today’s news
Union Finance Minister Nirmala Sitharaman will hold high-level meetings with Singapore’s political leadership, global institutional investors and entrepreneurs during her three-day official visit to the country from October 9-11, as India seeks to deepen investment ties with one of its largest sources of foreign direct investment (FDI).
Sitharaman will participate in a roundtable with hedge fund and portfolio fund managers, as well as hold intergovernmental meetings and one-on-one discussions with leaders of the world’s leading financial institutions, investment firms and healthcare companies, the finance ministry said in a statement on Friday.
During the visit, Sitharaman will invite Singapore President Tharman Shanmugaratnam, Prime Minister Lawrence Wong, Deputy Prime Minister Gan Kim Yong and Foreign Minister Vivian Balakrishnan.
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The discussions will focus on key areas of the India-Singapore Comprehensive Strategic Partnership and the implementation of the India-Singapore Ministerial Round Table (ISMR) outcomes, including cooperation in trade and investment, digital financial connectivity, capital markets, taxation, semiconductors, advanced manufacturing, skills and aviation, the ministry said.
According to the ministry, Singapore is India’s largest source of foreign direct investment, with cumulative inflows of approximately $194.68 billion between April 2000 and March 2026. Singaporean institutional investors, including the Government of Singapore Investment Corporation (GIC) and Temasek Holdings, have significant investments across the Indian economy.
Business reach
Sitharaman will hold one-on-one meetings with CEOs of GIC, Temasek, DBS Bank, Standard Chartered Bank, British International Investment, IHH Healthcare, Mitsubishi UFJ Financial Group’s Asia-Pacific operations, B Capital and HPS Investment Partners. He will also meet the chairperson of Skandinaviska Enskilda Banken, director of the board of directors of Mitsui & Co. and Executive Chairman and Founding Partner of TPG.
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Engagement with investors and business leaders will provide an opportunity to exchange views on India’s growth trajectory, investment opportunities and the evolving global economic and financial landscape, the ministry said.
The government is also looking to use platforms such as the National Investment and Infrastructure Fund (NIIF) and GIFT City to attract more participation from Singaporean capital, including through investment vehicles and funds.
The Ministry of Finance, in coordination with relevant ministries and industry bodies, will facilitate linkages between interested Singaporean investors and Indian companies, financial institutions and state governments. It will also provide the necessary support for the development of identified investment opportunities.
The visit underscores India’s efforts to translate the strategic partnership with Singapore into greater investment flows, trade partnerships and concrete economic outcomes, the ministry said.
Singapore is India’s largest trading partner in the Association of Southeast Asian Nations (Asean). After the conclusion of the Comprehensive Economic Cooperation Agreement (CECA), bilateral trade expanded from US$ 6.7 billion in the fiscal year 2004–05 (FY05) to ₹36.1 billion in FY26.
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Singapore is India’s sixth largest trading partner, accounting for approximately 2.96% of India’s total trade. In FY26, India’s exports to Singapore were $11.86 billion, while imports from Singapore were $24.24 billion, leading to a trade deficit of $12.38 billion.
