Union Commerce and Industry Minister Piyush Goyal held separate meetings with select entrepreneurs and investors in Singapore and discussed investment opportunities in India and possible plans of these companies with respect to India.
Mr Goyal stopped in Singapore while returning from a two-day visit to Laos. In Laos, he represented India at the ASEAN and East Asian Ministers' Meetings. In Singapore, he held talks with Sean Chiao, Group CEO of Surbana Jurong, a global firm dealing in infrastructure, and Shailendra Singh and Rohit Agarwal of investment firm PixXV Partners.
About his meetings in Singapore, Shri Goyal said in separate tweets on social media on Sunday,
'Met Mr Sean Chiao, Group CEO of Surbana Jurong. We had productive discussions on the company's plans for India's rapidly growing urban and industrial infrastructure sector. India looks forward to collaborating closely with Surbana Jurong in shaping the next generation of infrastructure globally.'
In a separate post, he said, 'Had a meeting with Mr Shailendra Singh and Mr Rohit Agarwal, MDs of Peak XV Partners, a leading venture capital and growth investment firm.
Shri Goyal also held a meeting with Phua Mei Ming, CEO of Singapore-based upholstered furniture manufacturing company HTL International. The Commerce Minister said that the meeting discussed the role of India in the company's expansion plans given the immense growth potential of India's manufacturing sector and the huge retail market.
Discussed India's thriving startup ecosystem and the Government's efforts to enhance ease of doing business. Also explored potential opportunities in areas such as green investing and emerging technologies like AI.
According to the Ministry of Commerce and Industry, Mr Goyal attended the 12th East Asia Summit Economic Ministers' Meeting (EAS-EMM) on Saturday, the second and last day of his visit to Vientiane, Lao. The meeting was chaired by Lao Minister of Industry and Commerce Malaithong Kommasith.
Lao is the chair of the Association of Southeast Asian Nations (ASEAN) for 2024.
The EAS-EMM Summit was attended by economic ministers or their representatives from all 10 ASEAN countries and the eight other EAS partners. India, the United States, Russia, China, Japan, Korea, Australia and New Zealand were present at the meeting. The Democratic Republic of Timor-Leste attended the meeting as an observer.
According to a Commerce Ministry release, the Economic Ministers at the 12th EAS EMM discussed regional and global economic developments and challenges. In his intervention, Minister Shri Goyal reiterated India's commitment to strengthen the East Asia Summit Forum as its founding member and acknowledged its role in promoting peace, stability and economic prosperity in the region. Referring to the ASEAN Secretariat's briefing on regional and global economic forecasts for 2025, Shri Goyal told the conference that while the global economy is expected to grow at 3.2 per cent in 2024-25, India's growth rate is projected at 7-7.2 per cent. India is on track to become the third largest economy by 2027.
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