India and Singapore are set to deepen cooperation in semiconductors, digital connectivity, fintech, green hydrogen, healthcare, and industrial parks. Both nations are also working to strengthen trade in agricultural and processed food products as part of efforts to give greater momentum to their Comprehensive Strategic Partnership.
These areas of cooperation were discussed at the fourth India-Singapore Ministerial Roundtable (ISMR) held in Singapore on Thursday. The high-level bilateral meeting was attended by senior Indian ministers, including Finance Minister Nirmala Sitharaman, Minister of External Affairs S. Jaishankar, Commerce and Industry Minister Piyush Goyal, and Minister of State for Commerce and Industry and Electronics and IT Jitin Prasada, alongside their Singaporean counterparts.
According to a statement issued by the Ministry of External Affairs, the ministers noted the progress achieved under existing ISMR pillars. This includes a significant increase in UPI-PayNow Connect transactions, the implementation of a pilot for registering Indian generic medicines in Singapore, and the export of agricultural produce such as litchis, mangoes, cherries, and plums from India to Singapore.
Other areas of progress evaluated during the meeting include the approval of Indian establishments by the Singapore Food Agency for exporting processed poultry products, the development of the National Centre of Excellence for Skilling in Chennai, the organisation of the fourth Singapore-India Hackathon, and the forthcoming rollout of the Green Lane Initiative for semiconductors. The two sides also discussed green hydrogen supply chain development and the opening of a Singapore Business Federation office in Bengaluru.
The Singaporean delegation was represented by Deputy Prime Minister and Trade Minister Gan Kim Yong, National Security and Home Minister K. Shanmugam, Foreign Affairs Minister Vivian Balakrishnan, Digital Development and Information Minister Josephine Teo, and Transport and Second Finance Minister Jeffrey Siow.
Both sides agreed to explore greater engagement between Singapore and Indian states, including through regular visits by chief ministers to Singapore. During the visit, Commerce and Industry Minister Piyush Goyal addressed the India-Singapore Business Forum and held meetings with potential investors and industry partners.
The push for cooperation in semiconductors comes amid India's broader efforts to build a domestic semiconductor ecosystem and attract global investment into chip manufacturing and related supply chains. Minister Jitin Prasada participated in a semiconductor industry roundtable during the visit.
During the meetings, the ministers witnessed the exchange of two memoranda of understanding and a letter of intent. An agreement between India’s Food Safety and Standards Authority and the Singapore Food Agency will facilitate technical information-sharing on food safety, aimed at easing bilateral trade in agricultural and food products.
This roundtable follows the elevation of India-Singapore ties to a Comprehensive Strategic Partnership during Prime Minister Narendra Modi’s visit to Singapore in September 2024. A roadmap for the partnership was subsequently adopted during Singapore Prime Minister Lawrence Wong’s visit to India in September 2025. The Indian ministers also called on the Singapore Prime Minister during the visit.
"The deepening economic and strategic engagement between India and Singapore creates significant opportunities for businesses, particularly in emerging sectors like semiconductors, fintech, and green energy. For startups and enterprises looking to scale internationally, stronger cross-border frameworks, digital payment linkages, and initiatives like the Green Lane for semiconductors provide a predictable and supportive environment for trade, technology collaboration, and foreign investment." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
