Commerce and Industry Minister Piyush Goyal on 22 August 2026 underscored India's expanding role in the global economic order at the ICAI International Conference 2026 in Singapore, citing sustained economic growth, investment-led policy reforms, and deepening integration with international markets. The keynote address placed India's growth story before a global audience of finance and business professionals.

Key Themes from the Keynote

Delivering the keynote, Goyal spoke about the opportunities and responsibilities that India's global integration presents for Chartered Accountants. He stressed India's commitment to fostering economic partnerships that drive shared prosperity. 'Underscored India's commitment to deepening economic engagement and fostering partnerships that contribute to shared growth and prosperity,' Goyal noted in a post on X.

Engagement with Singapore's Business Community

On the sidelines of the conference, Goyal met representatives of leading family-owned businesses in Singapore, describing the interaction as productive. 'The roundtable provided an opportunity to highlight India's growth trajectory, investment opportunities, and the enabling policy environment for attracting long-term capital. Invited greater participation by global investors and family-owned businesses in India's growth journey,' he said.

Goyal also held a bilateral meeting with Ritu Mehlawat, Head of Investments, India, at ST Telemedia Global Data Centres (STT GDC), focusing on investment avenues and collaboration prospects. The discussion centred on India's emergence as a preferred destination for data centres — a sector that has seen a sharp uptick in foreign capital interest over the past two years.

Semiconductor Partnership in Focus

Minister of State for Commerce and Industry Jitin Prasada held separate meetings in Singapore, including discussions with Aylwin Tan, Chief Customer Solutions Officer at CapitaLand, and Yeoh Cheik How, Senior Director, APAC GWS and CRE at KLA Corporation, on expanding investment opportunities in India.

Prasada also concluded talks aimed at strengthening the India-Singapore semiconductor partnership. 'From building resilient supply chains to enabling greater participation of Singaporean companies and SMEs in India and developing skilled talent, there are several promising avenues for collaboration. We are committed to taking this partnership forward and building a globally competitive semiconductor ecosystem,' Prasada said. 'Together, we can build stronger partnerships that contribute to a future-ready and globally competitive India,' he added.

Why This Visit Matters

The Singapore engagements come at a time when India is aggressively courting foreign direct investment across high-value sectors, including semiconductors, data infrastructure, and advanced manufacturing. Singapore remains one of India's top sources of FDI, and the participation of senior ministers at a high-profile global accounting conference signals the Centre's intent to leverage diaspora and institutional networks for capital mobilisation. Notably, this is the second major ministerial outreach to Singapore within the current fiscal year.