India-Singapore have immense avenues to collaborate: Goyal
Global investors, including Blackstone and Temasek, showed interest in India's sectors during Minister Piyush Goyal's visit to Singapore to boost trade ties.
Global investors such as Blackstone, Temasek, Sembcorp, Keppel Corporation, Texas Pacific Group (TPG), Nomura Asia Pacific Holdings, and Schneider Electric expressed their investment interests in India’s traditional and emerging sectors during Union commerce and industry minister Piyush Goyal’s Singapore visit.
During his three-day visit to Singapore to further strengthen bilateral economic and trade relations between the two countries, Goyal held “insightful discussions” with Singapore deputy prime minister and minister for trade and Industry Gan Kim Yong, he said in a post on X. “Excited to deepen India-Singapore trade & economic partnership through meaningful engagements and robust public-private collaborations,” he said in the post.
“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,” he said after the meeting.
Goyal on Friday met Temasek CEO Dilhan Pillay Sandrasegara and “discussed key opportunities to further strengthen investment ties” between India and Singapore. The next day addressed a business session of the ‘India-Singapore@60: Partnership for Growth and Innovation’ alongside Singapore’s minister of state for foreign affairs and trade Gan Siow Huang.
In the meeting, he “highlighted greater collaboration and B2B opportunities between our businesses, and emphasised further strengthening India-Singapore trade & investment ties for a more balanced, inclusive & future-ready economic partnership,” Goyal said in one of the posts. The business session marked the 60th anniversary of diplomatic relations between India and Singapore. The event was co-organised by CII, Ficci and ASSOCHAM.
Goyal, who delivered the keynote address at the event, commended the transformative progress achieved over the last six decades of diplomatic relations and the promising prospects for deeper bilateral engagement based on trust and mutual respect, the commerce and industry ministry said in a statement on Saturday.
He also highlighted prospects of further cooperation across a wide range of areas particularly in sustainability, digitalisation, skills development, healthcare, advanced manufacturing, and connectivity, it said.
“A significant highlight during the three-day visit is meeting with HE Tharman Shanmugaratnam, President of the Republic of Singapore, held at the Istana. Discussions reaffirmed the long-standing strategic partnership between India and Singapore, underpinned by shared values, resilient economic ties, and a joint emphasis on innovation and sustainability,” the statement said.
Singapore minister of state for trade and industry Gan Siow Huang reaffirmed the close and longstanding relationship between the two nations underpinned by strong economic and people-to-people ties. She provided actionable insights into Singapore’s vision for strengthening trade, investment, and innovation-driven collaboration with India, it said.
On the sidelines, Goyal held several bilateral meetings with leading global investors and CEOs to explore avenues of cooperation. He met Wong Kim Yin, group president & CEO of Sembcorp and discussed opportunities in energy transition, green hydrogen and skill development, it said.
He also met, Loh Chin Hua, CEO of Keppel Corporation and discussed collaborative projects in real estate, waste to energy and digital connectivity. In a meeting with Gautam Banerjee, chairman, Blackstone Singapore the minister held a follow-up discussion focusing on Blackstone’s growing India portfolio, the statement said.
While Jim Coulter, chairman, Texas Pacific Group (TPG) reflected on opportunities in India’s high-growth investment sectors, Marcus Wallenberg, chairman of Skandinaviska Enskilda Banken and Saab AB, together with Jean Salata, CEO, EQT Asia, and Jimmy Mahanti, partner & chairman of South & Southeast Asia, EQT Private Capital Asia, emphasised potential cooperation in finance, technology, and advanced industries, it said.
