SICCI to launch India trade push, starting with Tamil Nadu mission
The Singapore Indian Chamber of Commerce and Industry plans to deepen its engagement with the Indian government, policymakers and industry over the next three to six months as part of a strategic roadmap aimed at boosting cross-border trade with India, its newly appointed chief executive officer Pradeep Menon has said. The chamber is looking to step up business links as India’s economy continues to expand.
As part of the plan, SICCI is organising targeted trade missions to key Indian states, starting with Tamil Nadu, to help Singapore-based firms tap commercial opportunities. It also wants to strengthen Singapore’s role as a trusted, rules-based gateway for regional capital, including investors from the Association of Southeast Asian Nations seeking transparent access to India’s fast-growing economy.
Menon told weekly Tabla! that Indian enterprises look to Singapore for “rich know-how knowledge” that can improve business productivity in a cost-effective way, while Singapore businesses benefit from access to India’s vast consumer market and deep talent pool. “It’s kind of symbiotic. India benefits from us, and we too, want to go into India. The market is humongous,” he said. “We want to be part of the growth. We want a slice of the pie.”
India, which recorded 7.8 per cent GDP growth in the first quarter of fiscal year 2026-27, is also an important source of manpower and talent for Singapore. “One of the biggest problems today’s businesses are facing is manpower, talent,” Menon said. “Singapore is never going to be able to overcome its talent shortages organically or domestically. 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 Indian community and business-focused weekly.
Menon took over as SICCI chief executive officer last month. He had earlier served as chief executive officer of the chamber from 2003 to 2010. ASEAN member countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Timor-Leste, the Philippines and Vietnam. The bloc’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. With a population of 683 million, ASEAN is seen as a major export market for Indian products, with the Philippines and Vietnam listed by industry and diplomatic observers as importers of high-value defence equipment.
Singapore remains the biggest source of foreign direct investment into India, with an inflow of nearly USD 15 billion in fiscal year 2024-25, according to published data there. The city-state has been India’s leading FDI source for the past seven years. Over the past 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. 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 the bloc in 2024-25.
Overall, SICCI’s plan is to build stronger links with Indian policymakers and businesses, expand trade missions beginning with Tamil Nadu, and use Singapore’s position in ASEAN to widen investment and trade opportunities between the two sides.
