Singapore and Indian business leaders explored state-level opportunities, trade, investment and practical partnerships.
The Singapore Business Federation (SBF) hosted the inaugural Singapore-India Network for Growth Forum on 5 October 2026 in Singapore, providing a platform for Singapore and Indian business communities to explore investment and partnership opportunities at the state level. The programme featured Singapore Government representatives, the High Commissioner of India to Singapore, SBF leaders, business representatives and delegations led by the Chief Ministers of Chhattisgarh and Haryana.
The programme began with opening remarks by SBF Chairman Mark Lee, followed by a welcome address from Prasoon Mukherjee, Chairman of the SBF-India Business Committee, and a bilateral welcome by Dr Shilpak Ambule, High Commissioner of India to Singapore. Minister of State Gan Siow Huang then delivered the Singapore keynote address, followed by keynote addresses from Shri Vishnu Deo Sai, Chief Minister of Chhattisgarh, and Shri Nayab Singh Saini, Chief Minister of Haryana.
In his opening remarks, SBF Chairman Mark Lee said India remained an important market for Singapore businesses, citing its economic scale, entrepreneurial activity and opportunities in different states and industries. He noted that Singapore was the largest source of foreign direct investment into India in the latest Indian financial year, with US$19.8 billion in investment, and encouraged Singapore companies to consider following this capital with products, services and people.
Mr Mark Lee, Chairman, Singapore Business Federation:
“It means that businesses willing to listen, choose their partners carefully and build patiently can find room to grow in the market of this land.”
Minister of State for the Ministry of Energy and Trade and Industry and Ministry of Foreign Affairs Gan Siow Huang highlighted the importance of using existing bilateral frameworks, engaging Indian states directly and creating opportunities for businesses from both countries. She referred to cooperation under the India-Singapore Ministerial Roundtable, including areas such as semiconductors, industrial parts, food security, digital payments and green shipping.
Ms Gan Siow Huang, Minister of State, Ministry of Energy and Trade and Industry and Ministry of Foreign Affairs:
“Entering the Indian market is only the first step. We all know that the Indian market is a huge one.”
High Commissioner of India to Singapore Dr Shilpak Ambule said greater engagement with Indian states had become an important part of bilateral economic relations. He noted that Singapore and Indian states had already developed several forms of cooperation and encouraged Singapore businesses to engage directly with the state delegations attending the forum.
Dr Shilpak Ambule, High Commissioner of India to Singapore:
“More importantly, what was identified was that we need greater engagement with the states.”
SBF-India Business Committee Chairman Prasoon Mukherjee emphasised the role of state governments in implementing investment projects. “Delhi sets the frame, the state sets the pace,” he said, citing land, infrastructure, utilities, local clearances, labour and skills as areas where state authorities play an important role.
Mr Prasoon Mukherjee, Chairman, SBF-India Business Committee:
“Delhi sets the frame, the state sets the pace.”
Chief Minister of Chhattisgarh Vishnu Deo Sai highlighted opportunities linked to infrastructure, logistics, natural resources, industrial development and innovation. He said Singapore was an important partner in India’s development journey and invited businesses to connect with Chhattisgarh’s institutions, talent and investment opportunities.
Shri Vishnu Deo Sai, Chief Minister of Chhattisgarh:
“Connect with our institutions, talent and opportunities. Let us work together to build partnerships that create new opportunities for investment, innovation, employment and shared prosperity.”
Haryana Chief Minister Shri Nayab Singh Saini outlined opportunities in advanced manufacturing, technology, logistics, digital services, industrial parks and future-ready skills. He also highlighted the Haryana Enterprise Promotion Center and state incentives designed to support investment and time-bound approvals.
Shri Nayab Singh Saini, Chief Minister of Haryana:
“Come to Haryana. Join us. Invest with us. Partner with us. Together, let us create a growth story whose benefits extend not only to Haryana and Singapore, but to India as a whole.”
The forum continued with a panel discussion on Singapore-India cross-border trade and payments, moderated by Mastercard, followed by a networking lunch. In the afternoon, Chhattisgarh and Haryana presented their investment landscapes and opportunities. Business sessions featured Nestlé India on cross-border trade opportunities, Transworld on business logistics, Indian Hotels Company (Taj Hotels Group) on hospitality, and Brakes India on the automotive industry.
The programme concluded with a networking tea break and a fireside chat and Q&A session with the two Chief Ministers, providing participants with an opportunity to discuss investment and business opportunities directly with the state leaders.
Source: IN Diplomacy Reporter
