Singapore

The relationship between Singapore and India has recently been elevated to a Strategic Partnership

There are more than 20 regular bilateral mechanisms, dialogues and exercises

India is 2nd largest trade partner among ASEAN countries

Singapore emerged as the largest source of FDI in India in 2018-19, and second largest in cumulative FDI since April 2000

US$11.15b is total value of Indian exports in 2021-22

US$18.96b is total value of Indian imports in 2021-22

US$ 115,089mn
is FDI inflow into India from April 2000 - March 2021

US$ 8.01 billion

bilateral trade value for April-November 2022

9.1%
Population of Singapore comprising Indians

6th largest trade partner

Strengths

GDP per capita, is among the highest in the world

13th

largest exporter in the world, with total exports of US$ 411.7 billion in 2018

Enabling environment

Singapore has a well-developed infrastructure, favorable regulatory and taxation frameworks and a skilled workforce

5-S Plank

Agreement to enhance bilateral relationships (i) Scale up Trade & Investment (ii) Speed up Connectivity (iii) Smart Cities and Urban Rejuvenation (iv) Skill development (v) State focus

Finance and Investments

Singapore-based investors have Assets Under Management (AUM) valued at over US$100b in India

Start-up sector

India and Singapore have a robust start-up sector which requires investments

Urban and infrastructure development and smart cities

Singapore entities have become major partners with India in these areas

India-Singapore Bilateral Relations

Following the conclusion of Comprehensive Economic Cooperation Agreement (CECA) of 2005, this robust relationship was elevated to a Strategic Partnership in 2015 during the visit of PM Modi and on the occasion of the 50th anniversary of the establishment of diplomatic relations

MoUs signed between India and Singapore during visit of Prime Minister to Singapore

MoUs on Electronics & Information Technology, Narcotics, Personnel Management and Public Administration, Fintech, and Planning.

India's Exports and Imports to Singapore

Source: Department of Commerce

S.No.	\Year	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023
1.	EXPORT	11,572.27	8,922.66	8,675.50	11,150.61	11,992.94
2.	%Growth		-22.90	-2.77	28.53	7.55
3.	India’s Total Export	330,078.09	313,361.04	291,808.48	422,004.40	450,958.43
4.	%Growth		-5.06	-6.88	44.62	6.86
5.	%Share	3.51	2.85	2.97	2.64	2.66
6.	IMPORT	16,281.64	14,746.78	13,304.92	18,962.19	23,595.35
7.	%Growth		-9.43	-9.78	42.52	24.43
8.	India’s Total Import	514,078.42	474,709.28	394,435.88	613,052.05	714,042.45
9.	%Growth		-7.66	-16.91	55.43	16.47
10.	%Share	3.17	3.11	3.37	3.09	3.30
11.	TOTAL TRADE	27,853.91	23,669.44	21,980.41	30,112.80	35,588.29
12.	%Growth		-15.02	-7.14	37.00	18.18
13.	India’s Total Trade	844,156.51	788,070.32	686,244.36	1,035,056.45	1,165,000.88
14.	%Growth		-6.64	-12.92	50.83	12.55
15.	%Share	3.30	3.00	3.20	2.91	3.05
16.	TRADE BALANCE	-4,709.38	-5,824.11	-4,629.42	-7,811.58	-11,602.41
17.	India’s Trade Balance	-184,000.33	-161,348.24	-102,627.40	-191,047.65	-263,084.03

Note:Since 2006-07, Petroleum figures are being computed from Import Daily trade Returns (DTRs) to genetate country-wise/port-wise tables. Up to 2005-06 consolidated petroleum import figures were being received from the Petroleum Ministry.

Enterprise Singapore

+65-6898-1800

Visit Website

167, Jalan Bukit Merah #03-13, Tower 4, Singapore 150167

Singapore Business Federation (SBF)

+65-6827-6828

Visit Website

160 Robinson Rd #06-01 SBF Center Singapore 068914

CII

+91-11-4577-1000; 2462-9994/7

Visit Website

The Mantosh Sondhi Centre 23, Institutional Area, Lodi Road, New Delhi - 110 003 (India)

Singapore Indian Chamber of Commerce& Industry

+65-6222-2855

Visit Website

SICCI Building 31 Stanley Street Singapore 068740

The High Commission of India, Singapore

+65-6737-6777

Visit Website

31, Grange Road Singapore 239702.

Commercial Representative

+65-8716-3002; 6238-0221

S. Jayaprahasam
First Secretary (Commerce)

Opportunities

Agricultural exports

Beer made from malt (220300)
Liqueurs & cordials (220870)
Non-alcoholic beverages other than waters of 2202.10 (not incl. fruit/veg. … (220290)
Sparkling wine of fresh grapes (220410)
Spirits obt. by distilling grape wine/grape marc (220820)
Waters, incl. min. waters & aerated waters, cont. added sugar/oth. sweeteni … (220210)
Whiskies (220830)
Wine other than sparkling wine of fresh grapes, incl. fortified; grape must with fermentation prevented/arrested by the addition of alcohol, in containters of 2 l/less (220421)

agriexchange.apeda.gov.in

Cuts & edible offal of species Gallus domesticus, frozen (020714)
Live fowls of species gallus domesticus, weighing > 185g (010594)
Meat of bovine animals, fresh/chilled, boneless (020130)
Meat of bovine animals, frozen, boneless (020230)
Meat of swine (excl. carcasses/half-carcasses/hams/shoulders & cuts thereof ), froxen (020329)
Other fresh eggs: of fowls of the species gallus domesticus (040721)

agriexchange.apeda.gov.in

Bread, pastry, cakes, biscuits & oth. bakers’ wares n.e.s. in Ch.19, whethe … (190590)
Sugar confectionery other than chewing gum (incl. white chocolate), not con … (170490)
Sweet biscuits (190531)

agriexchange.apeda.gov.in

Malt extract; oth. food preps. of flour/groats/meal/starch/malt extact [see … (190190)
Other wheat and meslin (100199)
Semi-milled/wholly milled rice, whether or not polished/glazed (100630)
Wheat/meslin flour (110100)

agriexchange.apeda.gov.in

Undenatured ethyl alcohol of an alcoholic strength by volume of 80% vol. (220710)

agriexchange.apeda.gov.in

Chocolate & oth. food preps. cont. cocoa (excl. of 1806.20-1806.32) (180690)
Chocolate & oth. food preps. cont. cocoa, in blocks/slabs/bars, weighing 2k … (180631)
Cocoa beans, whole/broken, raw/roasted (180100)

agriexchange.apeda.gov.in

Butter (040510)
Milk & cream, not concentrated/sweetened, fat content by wt. >1% but not >6 … (040120)
Milk in powder/granules/oth. solid form, fat content by wt. not >1.5% (040210)
Milk in powder/granules/oth. solid form, unsweetened, fat content by wt. >1 … (040221)
Processed cheese, not grated/powdered (040630)

agriexchange.apeda.gov.in

Food preps., n.e.s. (210690)
Prepared/presvd. preps. of fowls of the genus Gallus domesticus (excl. homo … (160232)
Sauces & preps. therefor, n.e.s.; mixed condiments & mixed seasonings, n.e. … (210390)
Whey & modified whey, whether or not concentrated/sweetened (040410)

agriexchange.apeda.gov.in

Apples, fresh (080810)
Grapes, fresh (080610)

agriexchange.apeda.gov.in

OTHER LEGUMINOUS VEGETABLES, SHELLED OR UNSHELLED, FRESH OR CHILLED (070999)

agriexchange.apeda.gov.in

Crustaceans; frozen, shrimps and prawns, excluding cold-water varieties, in shell or not smoked, cooked or not before or during smoking; in shell, cooked by steaming or by boiling in water (030617)
Crustaceans; not frozen, crabs, whether in shell or not smoked, cooked or not before or during smoking; in shell, cooked by steaming or by boiling in water, edible flours, meals and pellets (030624)
Fish preparations, fish minced or in forms n.e.c. in heading no. 1604, prepared or preserved (160420)
Fish; frozen, toothfish (Dissostichus spp.), excluding fillets, livers, roes, and other fish meat of heading 0304030383
Mollusc preparations; abalone, prepared or preserved (160557)

fishexchange.mpeda.gov.in

Nuts (excl. ground-nuts), incl. mixts., prepd./presvd., whether or not cont … (200819)

agriexchange.apeda.gov.in

Employment Opportunities

*Information subject to changes amid the global COVID-19 pandemic.

Currently there are more than 1.3 million foreign workers in Singapore, employed majorly by over 7,000 multinational companies operating in the island state. The region has emerged as a leading centre for hitech innovation and heavy cross-border investment, attracting the best of the global talent.

Research, innovation and enterprise are cornerstones of Singapore’s national strategy. Singapore is investing more in research and development (R&D) in the three areas of digital technology, cell therapy manufacturing, brain studies, ageing and sustainable urban food production, including cultured meat and microbial proteins.

Ethnic Indians constitute about 9.1% or around 350,000 of the resident population of 3.9 million in Singapore. In addition, among the 1.6 million foreigners residing in Singapore, about 21% or around 350,000 are Indian expatriates holding Indian passports, mostly serving in financial services, IT, students, construction and marine sectors. There are about 150,000 Indian migrant workers in Singapore.

More Info: Work passes and permits Immigration & Checkpoints Authority Work Pass Division Foreign Manpower Management Division

Public and private infrastructure building, maintenance

Driven by large transport projects, Singapore’s construction sector is estimated to record average growth of around 3.3% over 2019-28, as per Fitch Solutions. Construction of civic infrastructure and connectivity projects has been supported by foreign workers at different levels in Singapore. Distribution and logistics sector also draws foreign manpower.

Building and Construction Authority Work Permit for foreign worker

Conventional energy, power utilities and renewable energy jobs

Singapore has emerged as one of Asia’s leading petrochemical and refining centers and oil trading hubs. Energy utilities, from conventional to renewables, in Singapore draw foreign workers with varied capabilities.

Energy & Chemicals (EDB)Work Permit for foreign worker

Tax, accounting, banking, insurance, audit and other financial services

Singapore houses a dense concentration of more than 1,200 financial institutions. A leading destination of retail financial services as well as global tradings in commodities and foreignexchanges. Financial services in Singapore employs large number of expat workers.

Financial sector in Singapore Work Permit for foreign worker

Doctors, nurses, radiologists, lab technicians

Singapore’s healthcare sector is expected to attain a valuation of around US$44 billion by 2030. Singapore attracts large number of healthcare workers ranging from doctors to nurses and lab technicians.

Ministry of Health Work Permit for foreign worker

Software, hardware, new technology in telecoms and communications

Singapore’s IT industry was the strongest-performing in the world in 2017, with overall sector growth of 60% from the previous year. The IT and ICT infrastructure in Singapore has been set up and is supported by foreign workers. In the last couple of years, the priority is given to professionals who have skills in the deep technologies like AI, IoT, Industry 4.0 & Machine Learning.

Information & Communications Technology (EDB)Work Permit for foreign worker

Automobile to food products production

Singapore’s manufacturing sector contributes as much as 20% of the annual national GDP. The manufacturing industry in Singapore, covering a range of products, including electronics, biomedical, food processing, chemicals draws foreign manpower. The manufacturing industry in Singapore, covering a range of products, draws foreign manpower.

Singapore Economic Development Board Work Permit for foreign worker