Union Commerce Minister Piyush Goyal would explore strategies to bolster bilateral trade and investment during the second India Singapore Ministerial Roundtable (ISMR), that is scheduled to be held in Singapore on Monday.
On Sunday, the minister will engage with leading global business figures in Singapore, including DBS Bank, Temasek Holdings, OMERS, Keppel Infrastructure, and the Owners Forum, the Commerce Ministry said in a statement.
Minister Goyal would explore strategies to bolster bilateral trade and investment, capitalising on India's burgeoning market opportunities and its dynamic growth trajectory.
ISMR is a unique mechanism established to set a new agenda for India–Singapore bilateral relations. Its inaugural meeting was held in New Delhi in September 2022.
“The second meeting will enable both sides to review various aspects of their strategic partnership and identify new avenues to further elevate and broaden it,” said the ministry.
Singapore has been a major source of FDI for India. In the year 2023-24, the country was the largest source of foreign direct investment (FDI) for India, with an estimated $11.77 billion in inflows.
The cumulative inflow of FDI from Singapore from April 2000 to March 2024 is around $159.94 billion.
In bilateral trade, Singapore was the sixth largest global trade partner of India in 2023-24 with a total trade of $35.61 billion which accounts approximately 29 per cent of India’s total trade with ASEAN.
Apart from Goyal, External Affairs Minister (EAM) S. Jaishankar, Finance Minister Nirmala Sitharaman and Railways Minister Ashwini Vaishnaw will also participate in the ISMR. They will interact with their counterparts and will also call on Singaporean leadership.
After the first meeting, a FinTech Cooperation Agreement was signed between the Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA) in Gujarat.
Tripura Govt contemplating to boost tourism: Minister Sushanta Chowdhury
The state transport and tourism minister Sushanta Chowdhury on Thursday said that the government is contemplating to make tourism as an alternate means of livelihood in the state. Adequate fund has been allocated for further developing the tourism sector, he added.
Imports from B’desh to Tripura increase, exports largely decline: Minister
Imports from Bangladesh into Tripura increased but exports from the northeastern state of India to the neighbouring country substantially declined, state Industries and Commerce Minister Santana Chakma told the Assembly on Thursday.
67 percent households in AMC areas connected with drinking water supply: CM Dr Manik Saha
Chief Minister Dr Manik Saha on Thursday claimed that at least 67% households were connected with drinking water supply in the areas of Agartala Municipal Corporation.
Boy drowns in Muhuri River during Baruni bathing ritual
In a tragic incident, Sayan Pal (18), a 12th-standard student from Arya Colony, Belonia, drowned in the Muhuri River while participating in the holy Baruni bathing ritual on Wednesday afternoon.
Innovative projects launched to supply drinking water from Dumbur: CM
Chief Minister Prof. Dr. Manik Saha today said that several innovative projects have been set up based on the reserved water of the Dumbur water reservoir, making it possible to provide drinking water connections to many families through pipelines.
Govt undertaken measures to increase Howrah river’s navigability: Tripura CM
Chief Minister Prof. Dr. Manik Saha today said that the state government has undertaken a series of measures to permanently address flooding in Agartala city by increasing the navigability of the Howrah River.
Tripura Assembly witnesses spat over minister's 'racist' remark against LoP
The Tripura Assembly witnessed a noisy scene for the fourth day on Thursday over Parliamentary Affairs Minister Ratan Lal Nath's alleged racist remarks against Leader of the Opposition (LoP) Jitendra Chaudhury.
Centre Releases Rs 240.5 Crore to Tripura for Urban Planning Reforms
Chief Minister Prof. Dr. Manik Saha today announced that the Ministry of Finance has released Rs 240.5 crores to Tripura for achieving urban planning reforms.