A delegation from the Indian government recently visited Singapore with the aim of strengthening trade relations and encouraging investment in the country. Led by Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), the delegation held constructive discussions with senior government officials in Singapore and took part in investor roundtable sessions.
Singh delivered a keynote speech at the "India-Singapore Trade Roundtable" focusing on the Food and Machinery Sector. The event was organized by the Federation of Indian Chambers of Commerce & Industry (FICCI) and the High Commission of India in Singapore in collaboration with the Singapore Business Federation.
According to a FICCI official, the event provided a forum for businesses from India and Singapore to discuss opportunities for boosting trade, forming joint ventures, exchanging technology, and fostering partnerships. The delegation's visit aimed to attract investors to India and strengthen trade relations between the two countries, as stated by the official. Additionally, Singh held discussions with Beh Swan Gim, Permanent Secretary of Singapore's Ministry of Trade and Industry, during which they underscored the significance of bilateral relations between India and Singapore.
The delegation also participated in the Investors' roundtable focusing on Renewable Energy, Electronics and Semiconductors. Hosted by Enterprise Singapore and Invest India, these sessions facilitated discussions among industry leaders regarding opportunities to strengthen investment connections and foster collaborative ventures between India and Singapore. Notably, Singapore ranks as India's 8th largest trading partner. As per the Indian High Commission in Singapore, bilateral trade between the two nations reached USD 35.59 billion in the fiscal year 2022-23, marking an 18 percent growth compared to 2021-22.