India and Singapore Celebrate 60 Years of Partnership, Know About the Trade and Business between Two Nations

The “India-Singapore @60: Partnership for Growth & Engagement” business session was held on 4 October 2025 in Singapore, marking the 60th anniversary of diplomatic relations between the two nations. The event was jointly organized by FICCI, CII, and ASSOCHAM to celebrate the growing partnership and explore new areas of collaboration.

Keynote Address by Shri Piyush Goyal

Shri Piyush Goyal, Union Minister of Commerce & Industry, delivered the keynote address.
He praised the transformative progress made during the past six decades and highlighted the strong foundation of trust and mutual respect that guides India–Singapore relations. The Minister emphasized opportunities for deeper cooperation in areas such as sustainability, digitalization, skill development, healthcare, advanced manufacturing, and connectivity.

Did You Know? India and Singapore share close ties with a history rooted in strong commercial, cultural, and people-to-people links across a millennium. Singapore is the leading source of FDI, among the largest sources of External Commercial borrowing and Foreign Portfolio Investment. It is the largest trade partner of India in the ASEAN region.

India-Singapore Trade

• India is Singapore’s 12th largest trade partner, for FY25 with a share of ~3% in Singapore’s overall trade.
• Singapore is India’s 6th largest trade partner and largest trade partner in ASEAN.
• Bilateral trade stood at US$ 34.29 billion in 2024-25.
• Singapore is the 2nd largest investor in India, with a cumulative FDI inflow of US$ 174.89 billion from April 2000-March 2025.

Major exports from India to Singapore

• India’s export to Singapore stood at US$ 12.98 billion in FY25.
• India exported ~4500 commodities to Singapore in FY25.
• Major exported items from India to Singapore include petroleum products (US$ 4.97 billion), engineering goods (US$ 4.47 billion), organic and inorganic chemicals (US$ 1.21 billion), gems and jewelry (US$ 554 million), electronic goods (US$ 565 million), etc. in FY25.

Major imports by India from Singapore

• India’s imports from Singapore stood at US$ 21.30 billion during FY25.
• India imported ~3,600 commodities from Singapore in FY25.
• Major items imported by India from Singapore include electronic components (US$ 5.40 billion), Nuclear reactors (US$ 3.16 billion), mineral fuels and oils (US$ 2.94 billion), plastic and articles thereof (US$ 1.53 billion), organic chemicals (US$ 1.31 billion), ship, boats and floating structures (US$ 924.95 million), etc. in FY25.

Economic Relations and Investments

In FY25, bilateral trade stood at US$ 34.29 billion. FDI equity inflows in India from Singapore reached US$ 14.94 billion in FY25 compared to US$ 11.77 billion in FY24. Singapore held the position of the largest source of FDI into India, with FDI inflows of US$ 17.42 billion in FY21 despite the Covid situation. The cumulative FDI inflows from Singapore to India stood at US$ 174.89 billion (April 2000-March 2025).

Singapore is also amongst the largest sources of External Commercial Borrowings for India and Foreign Portfolio Investment from Singapore has been extremely important for India. The top sectors attracting FDI Equity inflows from Singapore are the Services Sector, Computer Software & Hardware, Trading, Telecommunications, and Drugs & Pharmaceuticals.

State governments are working with Singapore in the Smart Cities & Urban Rejuvenation as well as Skills Development initiatives. Singapore has established a Joint Committee with Maharashtra. There are regular visits of state delegations at various levels to Singapore. Ministers from Singapore also visit states in India.