SINGAPORE — Union Minister of Commerce and Industry Piyush Goyal outlined India’s expanding role in driving global economic growth during an official visit to Singapore, inviting foreign institutional investors, family offices, and technology conglomerates to deepen their strategic presence in the Indian market.
Delivering the keynote address at the Institute of Chartered Accountants of India (ICAI) International Conference 2026, Goyal emphasized that ongoing structural reforms, sustained GDP expansion, and active global integration have established India as a resilient hub for international capital. He noted that financial professionals and chartered accountants play an increasingly central role as trusted intermediaries facilitating cross-border investment flows into India's expanding economic framework.
"Underscored India's commitment to deepening economic engagement and fostering partnerships that contribute to shared growth and prosperity," Goyal said, highlighting the strategic importance of bilateral engagement between South Asian and Southeast Asian markets.
Pitching to Global Family Offices and Data Centers
During his itinerary, Goyal chaired a high-level roundtable with leaders of major family-owned enterprises and private capital funds in Singapore. The discussion focused on long-term capital deployment across India's infrastructure, technology, and manufacturing sectors.
Goyal detailed the government's policy environment, streamlined regulatory processes, and competitive domestic market scale, urging family offices to align their investment strategies with India's long-term economic development trajectory.
Targeting technology infrastructure expansion, Goyal held a bilateral meeting with Ritu Mehlawat, Head of Investments (India) at ST Telemedia Global Data Centres (STT GDC). The meeting centered on expanding data center infrastructure across key Indian metropolitan areas, driven by rising domestic cloud adoption, artificial intelligence workloads, and data localization frameworks.
Advancing Semiconductor and Industrial Infrastructure Collaboration
Parallel to Goyal’s engagements, Minister of State for Commerce and Industry Jitin Prasada led targeted discussions focused on industrial real estate and semiconductor supply chain integration.
Prasada met with Aylwin Tan, Chief Customer Solutions Officer at CapitaLand, alongside Yeoh Cheik How, Senior Director for APAC GWS and CRE at KLA Corporation, to discuss expanding industrial park footprints and technology manufacturing infrastructure inside India.
Furthering India's domestic semiconductor push, Prasada concluded bilateral talks on building resilient hardware supply chains through active participation from Singaporean enterprises and small-and-medium enterprises (SMEs).
“From building resilient supply chains to enabling greater participation of Singaporean companies and SMEs in India and developing skilled talent, there are several promising avenues for collaboration,” Prasada said. “We are committed to taking this partnership forward and building a globally competitive semiconductor ecosystem.”
The series of high-level engagements underscores New Delhi’s strategy of leveraging bilateral ties with Southeast Asian financial and technology hubs to secure direct investment, workforce development partnerships, and critical supply chain resilience.