India-Singapore Ties Get A High-Tech Push

The fourth India-Singapore Ministerial Roundtable (ISMR), held in Singapore on August 20, highlighted the expanding scope of the bilateral relationship, with the two sides reviewing cooperation beyond traditional trade and investment in areas including semiconductors, advanced manufacturing, digital connectivity, clean energy, skills, food security and maritime cooperation.

External Affairs Minister S. Jaishankar, Commerce and Industry Minister Piyush Goyal, Minister of State for Commerce and Industry and Electronics and Information Technology Jitin Prasada, and Finance and Corporate Affairs Minister Nirmala Sitharaman represented India. Singapore was represented by Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong, Senior Minister K. Shanmugam, Foreign Minister Vivian Balakrishnan, Digital Development and Information Minister Josephine Teo and Transport Minister Jeffrey Siow.

The two sides reviewed progress under the six pillars of their Comprehensive Strategic Partnership: advanced manufacturing, connectivity, digitalisation, healthcare and medicine, skills development and sustainability. They also looked at newer areas including semiconductors, fintech, green shipping, food security, industrial parks, green hydrogen and digital connectivity.

Semiconductors were among the most prominent issues discussed. Singaporean companies already investing in India are considering bringing suppliers and smaller partners into the Indian market. At a press conference, Gan Kim Yong said the two sides had discussed ways to make it easier for Singaporean SMEs to enter or relocate to India.

It was a pleasure to catch up with India’s Finance Minister Nirmala Sitharaman, External Affairs Minister Dr S Jaishankar, Commerce and Industry Minister Piyush Goyal, & Minister of State Jitin Prasada, ahead of the 4th India-Singapore Ministerial Roundtable (ISMR) in Singapore. pic.twitter.com/xLbjIKyaqJ

— Lawrence Wong (@LawrenceWongST) August 20, 2026

The focus on smaller companies is significant for building a broader semiconductor ecosystem. Large fabrication or assembly facilities require component suppliers, specialised engineering services, logistics networks and skilled workers. Singapore is exploring semiconductor training centres in locations where its companies are investing, while the National Centre of Excellence for Advanced Manufacturing in Chennai is intended to connect training with industrial requirements.

The discussions also covered sectors that represent newer areas of India-Singapore cooperation. Space was one of them. Singapore sees opportunities to work with India’s space ecosystem in research, development and commercial activities. Its space agency and India’s IN-SPACe are expected to explore possible areas of collaboration.

“India has a very strong space technology,” Gan said.

Nuclear technology was another emerging area, particularly small modular reactors (SMRs). Singapore has not decided whether to adopt nuclear power, but Gan said it wanted to understand developments in the technology and exchange expertise with India.

“We also discussed how we can share our experience and knowledge about SMRs,” he said.

Digital connectivity is already producing measurable results. The UPI-PayNow linkage has recorded a substantial increase in transactions, with transaction value in the first half of 2026 reportedly reaching nearly US$21 million, more than six times the level recorded during the same period a year earlier.

India and Singapore are also working on Project Nexus, which is intended to connect India with five ASEAN countries and is expected to become operational in 2027. The project is designed to facilitate cross-border payments by reducing the need for separate bilateral arrangements.

Financial-market cooperation is also developing. Singapore Exchange and India’s National Stock Exchange are examining closer links, including possibilities involving derivatives and dual listings.

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The growing integration of digital and financial systems has also brought cybersecurity into the bilateral agenda. As payment systems, financial platforms and other digital infrastructure become increasingly interconnected, the security of those systems is an important part of maintaining confidence in cross-border transactions.

Jaishankar described the roundtable as “very productive”, saying the discussions explored deeper cooperation in “advanced manufacturing, semiconductors, connectivity, digital, fintech, skilling, green economy and clean energy domains.”

Food security was another area where the two sides moved towards greater practical cooperation. India and Singapore exchanged an MoU between the Food Safety and Standards Authority of India and the Singapore Food Agency. The agreement is intended to improve technical cooperation on food safety and facilitate trade in agricultural and food products.

The arrangement could support Indian exports such as mangoes, litchis, cherries and plums. Singapore has also approved Indian establishments for the export of processed poultry products.

For Singapore, food security remains an important concern because of its heavy dependence on imports. For India, the discussions also open possibilities around food processing, supply chains and agricultural technologies, alongside exports of agricultural products.

Maritime cooperation was another part of the discussions. The two countries signed an agreement on maritime heritage, while also discussing green fuels and sustainable shipping.

Air connectivity was also on the agenda. Growing investment and trade have increased the need for movement of people and goods, and the two countries are examining ways to expand connectivity. No final decision, however, has yet been reached on changes to the bilateral air services framework.

The foundation stone for a new chancery-cum-residential complex of the High Commission of India in Singapore added a symbolic dimension to the visit. Jaishankar said the complex would reflect a “new era” in the Comprehensive Strategic Partnership and described it as the “face of India in Singapore”. Its proposed design draws inspiration from Indian architectural traditions, including Rajasthan, with materials such as marble expected to be sourced from India.

The business and investment component of the roundtable was reflected in the separate engagements by Indian ministers. Goyal met businesses and potential investors, while Prasada interacted with semiconductor stakeholders. The ministers also received the report of the fourth India-Singapore Business Roundtable, which examined issues including ease of doing business, capital flows and artificial intelligence.

The ISMR was established in 2022 as a mechanism for bringing together multiple ministries from both countries and addressing practical issues in the relationship. Since then, India and Singapore have elevated their ties to a Comprehensive Strategic Partnership and adopted a roadmap for its development.

The latest roundtable showed the breadth of that partnership, with discussions ranging from semiconductor manufacturing and skills to digital payments, space, nuclear technology, food security, shipping and air connectivity. It also placed greater emphasis on translating the partnership into cooperation involving companies, institutions and specialised sectors.