The Singapore Indian Chamber of Commerce and Industry (SICCI) is set to deepen its collaboration with the Indian government and industry stakeholders. Newly appointed Chief Executive Officer Pradeep Menon announced that this initiative is part of SICCI’s strategic roadmap aimed at enhancing cross-border trade. The focus will be particularly on leveraging opportunities within India’s rapidly growing economy.
ASEAN’s GDP grew at an average annual rate of 4 per cent from 2015 to 2024, when it stood at about USD 3.9 trillion. Its population of 683 million is considered a major export market for Indian products, with the Philippines and Vietnam listed as importers of high-value defence equipment, industry and diplomatic observers said. Singapore is the biggest source of foreign direct investment into India, with an inflow of nearly USD 15 billion recorded in fiscal year 2024-25, according to published data here. Over the last 25 years, total investment from Singapore into India stood at almost USD 192.538 billion, accounting for nearly 25 per cent of total FDI inflows, according to published data.
The prosperous island state has been a leading FDI generator for India for the past seven years, they said.
India, which recorded 7.8 per cent GDP growth in the first quarter of fiscal year 2026-27, is also a key source of manpower and talent for Singapore. Singapore is also among India’s largest trade and investment partners in ASEAN and accounted for 27.83 per cent of India’s overall trade with ASEAN in 2024-25.
Indian enterprises look to Singapore for “rich know-how knowledge” that can enhance business productivity in a cost-effective manner, while Singapore businesses gain access to India’s vast consumer market and deep talent pool, Menon was quoted as saying by Friday weekly Tabla! We will have to rely on international talent, and India is one of the markets that can continue providing that,” he said, according to the report by the Indian-community and business-focused weekly. “Singapore is never going to be able to overcome its talent shortages organically or domestically. SICCI also aims to strengthen Singapore’s role as a trusted, rule-based gateway for regional capital, including investors from the Association of Southeast Asian Nations seeking transparent access to India’s fast-growing economy.
