India, Singapore agree to bolster trade & investment ties, cooperation in innovation

New Delhi, Oct 3 (IANS) Union Minister of Commerce & Industry Piyush Goyal on Friday held a discussion with Singapore Prime Minister Lawrence Wong on strengthening trade and investment linkages, enhancing cooperation in innovation and digital connectivity, and exploring new opportunities in sustainable development between India and Singapore, according to an official statement.

"Delighted to call on H.E. @LawrenceWongST, Prime Minister of Singapore. Discussions reaffirmed our commitment to further strengthen our comprehensive strategic partnership, building on the strong momentum and vast potential for future growth," Goyal said in a post on X.

On his part, Wong posted: "Strengthening Ties with India. Met India's Commerce & Industry Minister @PiyushGoyal. We had a good discussion on deepening our economic partnership from industrial park development to emerging tech like AI".

Goyal also met Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong.

"Had a fruitful bilateral meeting with Gan Kim Yong, Deputy Prime Minister & Minister for Trade & Industry, Singapore. There are immense avenues for our nations to collaborate across sectors such as advanced manufacturing, skilling, infrastructure, and digital connectivity, among others. Look forward to building on these opportunities, strengthening investment ties, and further deepening the India-Singapore partnership," Goyal said in another post on X.

In Goyal’s bilateral meeting with Gan, the issue of further deepening industrial and trade cooperation between the two countries was discussed in detail.

The Indian minister is on a three-day official visit to Singapore to further strengthen bilateral economic and trade relations between the two countries.

In Goyal’s bilateral meeting with Gan, the issue of further deepening industrial and trade cooperation between the two countries was discussed in detail.

Goyal also met Minister for Foreign Affairs Vivian Balakrishnan, where both sides reaffirmed strategic trust and alignment on regional and global economic priorities.

The visit highlighted India’s strong growth trajectory, commitment to investment-led reforms, and the vast opportunities available for global partners across manufacturing, infrastructure, financial services, and the green economy.

A major highlight of the visit was the Business Roundtable on Foreign Direct Investment in the Manufacturing Sector, which was attended by key decision-makers from AmCham, EuroCham, the German Chamber of Industry & Commerce, and other business leaders.

Delivering the keynote address, Goyal underscored India’s robust economic growth, pro-investment policies, and strategic initiatives aimed at strengthening its position as a global manufacturing hub.

In addition to these leadership engagements, he also held strategic business meetings with leading corporates of Singapore and institutional investors.

At SIA Engineering Company (SIAEC), discussions focused on India’s fast-growing Maintenance, Repair & Overhaul (MRO) sector and the need to fast-track the India–Singapore Skilling Centre for MRO professionals in collaboration with Indian universities. Capital Land Investment conveyed its commitment to expand renewable energy solutions for data centres in Maharashtra, while also exploring opportunities in industrial parks, worker housing models, and potential entry into credit financing.

Royal Golden Eagle (RGE) shared updates on its tissue and pulp operations in India, discussed operational challenges, and expressed interest in knowledge exchange on sustainable forestry and reforestation practices. The Indian minister also had meetings with the CEO-Designate of GIC, Bryan Yeo, and the CEO of Temasek, Dilhan Pillay, which focused on scaling up India-focused portfolios across infrastructure, hospitality, renewable energy, financial services, and urban development.

The visit reaffirmed the strong and growing strategic and economic partnership between India and Singapore, with both sides agreeing to deepen cooperation in manufacturing, infrastructure, the green transition, the digital economy, and financial investments, the statement added.

--IANS

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