Nirmala Sitharaman to meet Singapore leaders, global investors on three-day visit

Union finance minister Nirmala Sitharaman will hold high-level meetings with Singapore’s political leadership, global institutional investors and business leaders during her three-day official visit to the country from 9-11 October, as India seeks to deepen investment ties with one of its largest sources of foreign direct investment (FDI).

Sitharaman will participate in a roundtable with hedge fund and portfolio fund managers, as well as hold government-to-business meetings and one-to-one discussions with the heads of leading global financial institutions, investment firms, and healthcare companies, the finance ministry said in a statement on Friday.

During the visit, Sitharaman will call on Singapore President Tharman Shanmugaratnam, Prime Minister Lawrence Wong, deputy prime minister Gan Kim Yong and foreign minister Vivian Balakrishnan.

The discussions will focus on key areas of the India-Singapore Comprehensive Strategic Partnership and advancing the outcomes of the India-Singapore Ministerial Roundtable (ISMR), including cooperation in trade and investment, digital financial connectivity, capital markets, taxation, semiconductors, advanced manufacturing, skilling and aviation, the ministry said.

Singapore is India's largest source of FDI, with cumulative inflows of around $194.68 billion between April 2000 and March 2026, according to the ministry. Singaporean institutional investors, including the Government of Singapore Investment Corporation (GIC) and Temasek Holdings, have significant investments across the Indian economy.

Business outreach

Sitharaman will hold individual meetings with the chief executives of GIC, Temasek, DBS Bank, Standard Chartered Bank, British International Investment, IHH Healthcare, Mitsubishi UFJ Financial Group’s Asia-Pacific operations, B Capital and HPS Investment Partners. She will also meet the chairperson of Skandinaviska Enskilda Banken, a director on the board of Mitsui & Co. and the executive chairman and founding partner of TPG.

The engagements with investors and business leaders will provide an opportunity to exchange views on India's growth trajectory, investment opportunities and the evolving global economic and financial landscape, the ministry said.

The government is also looking to leverage platforms such as the National Investment and Infrastructure Fund (NIIF) and GIFT City to attract greater participation from Singaporean capital, including through investment vehicles and funds.

The finance ministry, in coordination with relevant ministries and industry bodies, will facilitate connections between interested Singaporean investors and Indian companies, financial institutions and state governments. It will also provide the necessary support to take identified investment opportunities forward.

The visit underscores India's efforts to translate its strategic partnership with Singapore into greater investment flows, business partnerships and concrete economic outcomes, the ministry said.

Singapore is India’s largest trading partner in the Association of Southeast Asian Nations (Asean). Bilateral trade expanded after the conclusion of the Comprehensive Economic Cooperation Agreement (CECA) from $6.7 billion in fiscal year 2004-05 (FY05) to ₹36.1 billion in FY26.

Singapore ranks as India’s sixth-largest trading partner, accounting for around 2.96% of India’s overall trade. In FY26, India’s exports to Singapore stood at $11.86 billion, while imports from Singapore were $24.24 billion, resulting in a trade deficit of $12.38 billion.

About the Author

Harsh Kumar is a policy reporter at Mint (HT Media Group), where he covers the Ministry of Commerce and Industry along with key departments of the Ministry of Finance, including the Department of Economic Affairs (DEA) and the Department of Financial Services (DFS). With over five years of experience in business and economic journalism, he has developed strong expertise in tracking policy developments and their wider economic impact.<br><br>He has previously worked with Business Standard, Moneycontrol, and Outlook Money, where he reported extensively on banking, financial services, and the broader economy. Over the years, he has built a reputation for delivering accurate, insightful, and impactful stories, supported by a keen eye for detail and a consistent track record of breaking exclusive news.<br><br>An alumnus of Jamia Millia Islamia, Harsh closely follows regulatory changes and key economic trends shaping India’s financial and industrial landscape. His reporting aims to simplify complex policy issues for a wider audience while maintaining depth and credibility.<br><br>Outside of work, he enjoys tracking policy developments, finding scoops, and travelling, reflecting his curiosity about how economic decisions shape everyday life.