India-Singapore Trade Boost: Delegation Visits for Investment & Collaboration

Singapore, Feb 20 (PTI) An Indian government delegation has visited Singapore to bolster trade relations and attract investment to the country.

The delegation, led by Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh, engaged in productive discussions with high-ranking government officials in Singapore and participated in investor roundtables on Monday.

Singh also addressed the “India-Singapore Trade Roundtable” on the Food and Machinery Sector, organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) and the High Commission of India in Singapore, in partnership with the Singapore Business Federation.

The event served as a platform for Indian and Singaporean businesses to explore avenues for enhancing trade, joint ventures, technology exchanges, and partnerships, a FICCI official said on Tuesday.

The visit of the delegation was aimed at inviting investors to India and enhancing trade ties between India and Singapore, the official said.

Singh also met Beh Swan Gim, Singapore's Trade and Industry Ministry Permanent Secretary during which they emphasised on the importance of bilateral relations between the two nations.

The delegation also attended the Investors roundtable on Renewable Energy and Electronics and Semiconductors. These sessions, organised by Enterprise Singapore and Invest India, opened dialogues with business leaders on the potential for deepening investment ties and collaborative ventures between the two nations.

Singapore is India's 8th largest trade partner. According to the Indian High Commission in Singapore, in the year 2022-23, the bilateral trade reached USD 35.59 billion, registering a growth of 18 per cent over 2021-22.