Today, Singapore is hosting the Second India-Singapore Ministerial Roundtable (ISMR), aimed at enhancing trade and economic relations between the two nations.

The Indian delegation includes four Union Ministers: Nirmala Sitharaman, Piyush Goyal, S. Jaishankar, and Ashwini Vaishnaw.

Ahead of the roundtable, Goyal met with top executives from leading global firms, highlighting India's attractiveness as an investment destination.

This meeting will allow both countries to review their strategic partnership and explore new collaborative avenues.

Singapore has emerged as India's largest source of foreign direct investment (FDI) in the fiscal year 2023-24, with inflows estimated at $11.77 billion.

Minister Goyal emphasized the commitment to elevate and broaden the strategic partnership between India and Singapore during his discussions.

Key executives from major companies, including Temasek Holdings and DBS Bank, participated in discussions to explore investment opportunities.

Discussions at the roundtable also focused on enhancing digital payments, cybersecurity, and the potential for a regional instant payments system.

Ministers highlighted previous agreements aimed at enhancing cooperation in areas such as digitization, healthcare, and the green economy.

New areas of collaboration discussed include advanced manufacturing, semiconductors, aviation, and maritime connectivity.

The ISMR provides a platform for engaging with global business leaders, potentially leading to new partnerships and investments in India.

S. Jaishankar described the talks as productive, emphasizing cooperation in sustainability, healthcare, and connectivity.