India and Singapore have concluded the fourth India-Singapore Ministerial Roundtable (ISMR), with ministers from both countries identifying several emerging sectors—including the green economy, industrial parks, fintech, semiconductors and green shipping—to further expand bilateral cooperation. According to a statement issued by the Ministry of External Affairs (MEA) on Friday, the ministers reviewed progress under the India-Singapore Comprehensive Strategic Partnership (CSP), which is built around six key pillars: advanced manufacturing, connectivity, digitalisation, healthcare and medicine, skills development, and sustainability.

During the discussions, both sides welcomed the steady expansion of bilateral ties and explored opportunities in green economy, industrial parks, food security, digital connectivity, fintech, semiconductors and green shipping. India was represented by Finance and Corporate Affairs Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar, Commerce and Industry Minister Piyush Goyal, and Minister of State for Commerce and Industry and Electronics and Information Technology Jitin Prasada.

Singapore's delegation included Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, Senior Minister and Coordinating Minister for National Security K Shanmugam, Foreign Minister Vivian Balakrishnan, Minister for Digital Development and Information Josephine Teo, and Transport Minister and Second Minister for Finance Jeffrey Siow. The ministers reviewed progress across several areas of the partnership. These included the growing number of transactions through the UPI-PayNow linkage, the pilot registration of Indian generic medicines in Singapore, and increased exports of Indian fruits such as litchis, mangoes, cherries and plums. Singapore has also approved Indian establishments for the export of processed poultry products.

Other initiatives discussed included the development of the National Centre of Excellence for Skilling in Chennai, the upcoming fourth Singapore-India Hackathon, scheduled for November 15-17, 2026, and the planned Green Lane Initiative for semiconductors. Cooperation is also progressing on green hydrogen supply chains, while the Singapore Business Federation is set to open an office in Bengaluru. Both countries agreed to strengthen connections between Indian states and Singapore, including by encouraging regular visits by Indian chief ministers to Singapore.

Several agreements and understandings were also exchanged during the roundtable. The Food Safety and Standards Authority of India (FSSAI) and the Singapore Food Agency signed an MoU on food safety cooperation. The agreement will facilitate technical information sharing and support smoother bilateral trade in agricultural and food products.

Another MoU between India's Ministry of Ports, Shipping and Waterways and Singapore's Ministry of Culture, Community and Youth will promote cooperation in maritime heritage. It will facilitate exchanges between museums and institutions, including India's National Maritime Heritage Complex at Lothal in Gujarat.

India's Telecom Regulatory Authority of India (TRAI) and Singapore's Info-communications Media Development Authority (IMDA) also exchanged a Letter of Intent aimed at sharing regulatory experiences in telecommunications and broadcasting. During the visit, the Indian ministers met Singapore Prime Minister Lawrence Wong. Sitharaman also held discussions with Jeffrey Siow, while Jaishankar met K Shanmugam and Vivian Balakrishnan.

Jaishankar and Balakrishnan jointly laid the foundation stone for the new Chancery-cum-Residential Building Complex of the High Commission of India in Singapore. Commerce Minister Piyush Goyal addressed the India-Singapore Business Forum and met potential investors and industry representatives. He also visited an exhibition showcasing Indian agricultural products aimed at boosting exports to Singapore.

Minister of State Jitin Prasada held discussions with semiconductor industry stakeholders, alongside a dedicated Semiconductor Industry Roundtable. The two sides also received the report of the fourth India-Singapore Business Roundtable (ISBR), which serves as an advisory platform for business leaders to provide industry perspectives on bilateral economic cooperation.

The MEA said the ISMR mechanism reflects the dynamic, multidimensional and future-oriented nature of India-Singapore relations. The bilateral relationship was elevated to a Comprehensive Strategic Partnership during Prime Minister Narendra Modi's visit to Singapore in September 2024, while a roadmap for implementing the partnership was adopted during Singapore Prime Minister Lawrence Wong's visit to India in September 2025.
Disclaimer: This image is taken from X/@DrSJaishankar.

Gujarat is seeking to strengthen its collaboration with Walmart to help the state’s micro, small and medium enterprises (MSMEs) and small artisans gain greater access to international markets ahead of the Vibrant Gujarat Summit 2027. Gujarat Chief Minister Bhupendra Patel, who reached Washington, DC on Wednesday after completing his engagements in San Francisco as part of his week-long US-Canada visit, met Walmart Executive Vice President Dan Bryant for discussions on expanding export opportunities for local businesses.

During the meeting, Patel and Bryant focused on improving product quality and creating better avenues for Gujarat-based MSMEs to enter global markets. The Chief Minister also proposed joint workshops involving Walmart and relevant state government departments to identify opportunities in specific sectors. The two sides are expected to work together over the next three to four months to map potential international markets and develop opportunities for MSMEs and small-scale artisans from Gujarat.

Bryant also highlighted Walmart’s Vriddhi programme, which has trained more than 1.15 lakh MSMEs since its launch in 2019. The programme has set a target of supporting and training 1.70 lakh MSMEs by 2028. Introduced initially with the goal of empowering 50,000 MSMEs over five years, Walmart Vriddhi surpassed that target by training more than 70,000 enterprises during its first phase. The programme, implemented in partnership with the Ideas to Impact Foundation, provides free supplier-development support, combining digital training and business tools to help Indian entrepreneurs modernise operations, expand their businesses and become more competitive.

Patel and Walmart also discussed establishing a clear action plan for MSME collaboration, with the possibility of announcing a roadmap at the upcoming Vibrant Gujarat Summit 2027. The Gujarat government delegation, led by Patel, has also held meetings with senior representatives of global companies working in areas such as semiconductors, artificial intelligence, deep technology, startups, cybersecurity and skill development during the Chief Minister’s San Francisco visit. According to the state government, these discussions focused on attracting investment and strengthening Gujarat’s position as a major hub for semiconductor manufacturing and advanced technologies in India.

Disclaimer: This image is taken from CM Bhupendra Patel.

India’s electronics manufacturing industry is moving into a more advanced phase, with the government now aiming to expand domestic capabilities beyond final assembly to include components, materials and manufacturing equipment, Union Electronics and IT Minister Ashwini Vaishnaw said. In a post on X, Vaishnaw said the Make in India initiative has helped transform electronics into one of India’s major manufacturing sectors. Electronics production exceeded $116 billion in FY26, while exports reached $48 billion. Over the last decade, production has increased nearly sevenfold, while exports have grown about 11 times.

According to Vaishnaw, India initially concentrated on assembling finished electronics, particularly smartphones. As production expanded, it generated demand for modules and components, gradually encouraging the development of domestic manufacturing for materials and capital equipment. Mobile phones, which were not among India’s top 100 export products a decade ago, have now become the country’s largest exported item.

The government’s next priority is building a stronger domestic component and materials ecosystem through the Electronics Component Manufacturing Scheme (ECMS). Projects approved under the scheme had crossed ₹69,000 crore in investment by August 2026, surpassing the original target of ₹59,000 crore. The number of approved companies has also reached 106, compared with an initial target of around 60. These projects are expected to generate approximately 75,000 direct jobs and 2.5 lakh jobs overall. So far, 38 approved projects have begun manufacturing, while another 16 are in the construction and machinery-installation phase.

Vaishnaw also pointed to the expanding range of products now being manufactured in India, including PCBs, enclosures, speakers, antennas, optical transceivers, filters, capacitors, permanent magnets and advanced materials. Indian manufacturers are increasingly exporting components to international markets, including China.  Vaishnaw said India must concentrate on both scale and quality. He emphasized six-sigma standards, product reliability, competitive pricing and timely delivery as essential factors for making Indian components preferred by global manufacturers.

He further underlined the importance of continued investment in electronics design, advanced materials, precision components, capital equipment and skilled talent. Vaishnaw noted that electronics has risen from the 9th position to the 3rd position among India’s merchandise export categories in FY26, arguing that the foundation developed over the past 12 years can help the country unlock much greater potential in the coming five years.
Disclaimer: This image is taken from ANI.

India-US trade talks are progressing positively, and a comprehensive bilateral agreement could provide a significant boost to trade and business between the two countries, Indo-American Chamber of Commerce (IACC) National President Anup Acharya said. Speaking to ANI on the sidelines of the IACC National Convention 2026, Acharya said both India and the US have maintained a positive approach toward the proposed trade agreement from the outset. He noted that negotiations have taken time because the discussions cover a wide range of issues and are aimed at producing a comprehensive deal.

Acharya's remarks came after US Ambassador to India Sergio Gor said that around 99 per cent of the India-US trade agreement had been completed, with only the remaining one per cent yet to be resolved. Reacting to the ambassador's assessment, Acharya said the negotiations were clearly moving in the right direction. He also referred to positive statements from Ambassador Gor and Union Commerce and Industry Minister Piyush Goyal, expressing confidence that the remaining issues would be addressed through continued discussions.

He said a bilateral agreement could only be finalised after detailed negotiations, with both governments seeking an outcome that supports businesses and trade in their respective countries. Acharya added that the strong relationship between India and the US provides a favourable foundation for a mutually beneficial agreement.

The US ambassador also addressed the IACC National Convention 2026, where he emphasised the importance of stronger economic cooperation between India and the United States. Gor highlighted the need for predictable taxation, stable regulations, stronger intellectual property protection and greater trust on issues involving export controls and technology transfers.

He also pointed to the significant expansion in India-US trade in goods and services, which has risen from around USD 20 billion to more than USD 240 billion over the past two decades. Maharashtra Chief Minister Devendra Fadnavis met Ambassador Gor during the convention to discuss potential areas of cooperation. According to Fadnavis, the discussions focused on sectors including technology, education, universities, data centres and semiconductors, where the US has considerable expertise.

Fadnavis said Maharashtra is exploring ways to attract greater investment in these sectors and channel American capabilities and capital into the state. With negotiations continuing, expectations are growing that a comprehensive India-US trade agreement could strengthen market access, encourage investment and further deepen economic ties between the two countries.
Disclaimer: This image is taken from ANI.

In today’s 17 August market analysis on Open For Business, Hairianto Diman and Justine Moss are joined by Nick Ferres, Chief Investment Officer at Vantage Point, to discuss the latest market trends and developments.

Disclaimer: This podcast is taken from CNA.

On today’s (13 August) episode of Open For Business, Hairianto Diman and Justine Moss discuss the latest market trends and economic developments with Will McGough, Chief Investment Officer at Prime Capital Financial. The conversation explores current market conditions, investment sentiment, inflation, interest rates, and the broader outlook for investors as global financial markets respond to evolving economic signals and changing expectations.

Disclaimer: This podcast is taken from CNA.

On the July 13 edition of Open For Business, Andrea Heng and Hairianto Diman spoke with Mel Siew, Head of Asia Public Credit at Muzinich & Co., to examine the latest market trends. The discussion covered the resilience of Asian credit markets, growth opportunities in AI infrastructure, and the potential inflationary impact of rising oil prices on the global economy.

Disclaimer: This podcast is taken from CNA.

On the 2 July episode of Open For Business, Andrea Heng and Hairianto Diman sit down with Lorraine Tan, Morningstar's Director of Equity Research for Asia, for an in-depth analysis of the markets.

Disclaimer: This podcast is taken from CNA.