Goyal discusses ways to increase investments with top firms in Singapore

New Delhi: Commerce and Industry Minister Piyush Goyal on Sunday discussed ways to increase investments with the global business leaders in Singapore like Temasek holdings, DBS bank, OMERS, Keppal infrastructure, and TVS Motor Company.

"In the meetings, key discussions were held to explore and enhance investment opportunities between India and Singapore, focusing on mutual growth and collaboration across diverse sectors," the commerce ministry said in a statement.

OMERS is a pension fund.

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It added that the focus was on exploring investment opportunities in India, leveraging the country's economic growth, and fostering collaboration across various sectors.

"These discussions emphasised upon scaling up investments, particularly in the SME sector, enhancing India's investment climate, supporting sustainable development through decarbonisation, and identifying synergies for family-owned businesses in a changing global landscape," it said.

The minister also visited the Institute of Technical Education (ITE) Headquarters and ITE College Central in Singapore to explore opportunities for collaboration between India and Singapore in developing cutting-edge learning environments.

Singapore has been a major source of FDI for India with USD 11.77 billion inflows during the last fiscal year.

In bilateral trade, Singapore was the 6th largest global trade partner of India in 2023-24 with a total trade of USD 35.61 billion.

"Wrapped up a very fruitful day in Singapore today, with interactions and discussions with leaders of major global investment firms having over USD 500 billion of assets under management. Positioned India as an attractive destination and invited these multinationals to be part of our development journey," Goyal posted on social media platform X.

He met Cindy Lim, CEO of Infrastructure at global asset manager and operator, Keppel.

"Discussed the company's investment plans in India to support sustainable development through decarbonisation and help accelerate India's target of achieving net zero carbon emissions," the minister said on X.

He also met Ashish Goyal, Executive Vice President and Head - Asia Pacific of pension fund, OMERS, and discussed their current and future investment strategies for India and ways to further strengthen India's investment-friendly climate.

"Met Mr. Dilhan Pillay Sandrasegara, Executive Director and CEO of multinational investment firm @Temasek, along with the company's Chief Investment Officer Mr. Rohit Sipahimalani. Discussed how India's continued economic growth offers a delta of opportunity for Temasek’s," he added.

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