Sitharaman meets Singapore leaders to strengthen economic ties

India and Singapore have discussed ways to strengthen economic, financial, investment and business ties, with Union Finance Minister Nirmala Sitharaman meeting Singapore's top leadership during her visit to the city-state on Friday.
Sitharaman called on Singapore President Tharman Shanmugaratnam and met Prime Minister Lawrence Wong to discuss bilateral cooperation, global economic developments and investment opportunities.Wong said the two sides exchanged views on navigating the ongoing energy crisis and discussed developments in India and new avenues for investment and cooperation.

Union Minister for Finance & Corporate Affairs Smt. @nsitharaman called on H.E. Mr. @LawrenceWongST, Prime Minister of Singapore, in Singapore, today. PM Mr. @LawrenceWongST noted that bilateral cooperation between India and Singapore continues to grow and expressed optimism about India’s growth prospects. The two leaders discussed ways to further strengthen economic, financial, investment and business ties, with FM Smt. @nsitharaman sharing select projects from the @NIIFOfficial pipeline and highlighting India’s strong economic fundamentals to encourage greater investment by Singapore-based investors. They reviewed progress in advancing the outcomes of the 4th India-Singapore Ministerial Roundtable (ISMR), including cooperation in capital markets, payments connectivity and digitalisation, semiconductors, AI and cybersecurity. Discussions also covered tokenisation of financial assets and central bank digital currencies (CBDCs), with Singapore expressing keenness to share its experience in asset tokenisation. The two Ministers also exchanged views on regional and global developments and on strengthening India-ASEAN cooperation, including in the run-up to Singapore’s ASEAN Chairmanship in 2027.

— Ministry of Finance (@FinMinIndia) October 9, 2026

Sitharaman highlighted India's strong economic fundamentals and shared a pipeline of select projects from the National Investment and Infrastructure Fund (NIIF) to encourage greater investment by Singapore-based investors.The discussions also reviewed progress under the fourth India-Singapore Ministerial Roundtable, covering capital markets, digital payments, semiconductors, artificial intelligence, cybersecurity, asset tokenisation and central bank digital currencies (CBDCs).
Sitharaman also held discussions with Foreign Affairs Minister Vivian Balakrishnan on geopolitical developments, global economic challenges and opportunities for cooperation. Balakrishnan highlighted the potential for Singapore companies to participate in India's long-term growth.
During a business roundtable, Sitharaman exchanged views with leading global investment firms on India's economic resilience, financial markets, foreign investment and opportunities in Indian assets amid global uncertainties.

The meetings reaffirmed both countries' commitment to advancing their Comprehensive Strategic Partnership and expanding investment and technology cooperation. Singapore is also set to assume the ASEAN chairmanship in 2027, providing another avenue to strengthen regional economic engagement.

(Business Correspondent)