With a view to expanding bilateral ties, Finance Minister Nirmala Sitharaman met Singapore Business Federation (SBF) Chairman Mark Lee in Singapore on October 10, 2026, to discuss strengthening business engagement between the two countries through targeted business matching, trade delegations and cooperation in key sectors.
The Finance Ministry said the discussions focused on facilitating visits by Singaporean business delegations to India to enable meaningful interactions with Indian businesses and state governments, thereby expanding bilateral commercial opportunities. It added that Singapore’s ASEAN chairmanship in 2027 offers an opportunity to build further momentum in bilateral and regional economic cooperation. During the meeting, SBF highlighted potential areas of collaboration, including semiconductor supply chains, maintenance, repair and overhaul (MRO), food security and food processing.
Sitharaman also met Monetary Authority of Singapore (MAS) Deputy Managing Director Leong Sing Chiong. The MAS team presented its approach to tokenisation, including how the authority is fostering the development of the digital asset ecosystem, the ministry said in a separate post.
The ministry said the bilateral discussions explored potential efficiency gains from tokenisation, the importance of interoperability and trusted settlement arrangements, and the associated regulatory challenges. It added that both sides reaffirmed their commitment to working closely together on these emerging technologies.
