Following Prime Minister Narendra Modi’s recent roundtable with Singaporean business leaders, Singaporean companies have pledged investments totaling Rs 5 lakh crore in India over the next few years. This significant commitment was made during Modi’s visit, where he invited business leaders to explore opportunities in sectors such as aviation, energy, and skill development.
During the meeting, Modi emphasized India’s remarkable progress over the past decade, highlighting the nation’s political stability, policy predictability, and ease of doing business as key factors driving growth. He reaffirmed India’s reform-oriented economic agenda and its ambition to become the world’s third-largest economy in the near future.
The roundtable saw participation from prominent Singaporean CEOs, including Lim Boon Heng (Chairman, Temasek Holdings), Lim Chow Kiat (CEO, GIC Private Limited), Goh Choon Phong (CEO, Singapore Airlines), and Piyush Gupta (CEO, DBS Group). Deputy Prime Minister Gan Kim Yong and Singapore’s Minister for Home Affairs and Law also attended the event.
Modi acknowledged the significant role Singaporean businesses have played in strengthening bilateral ties and economic cooperation between the two nations. To further enhance collaboration, he announced the establishment of an INVEST INDIA office in Singapore, which is expected to drive investment initiatives and deepen economic engagement.
He also highlighted India’s contribution to global economic growth, noting that the country accounts for 17% of the worldwide growth. Modi pointed to initiatives like the Production Linked Incentive (PLI) scheme, the India Semiconductor Mission, and the development of 12 new Industrial Smart Cities as part of India’s efforts to integrate into global value chains.
With its skilled workforce and expansive market, India presents a resilient and attractive option for businesses seeking stable supply chains. Modi assured business leaders that infrastructure development in India will accelerate in his third term, with significant opportunities emerging in railways, ports, aviation, and digital connectivity.
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