Singapore’s Minister-in-charge of Trade Relations S Iswaran is in Bengaluru, India on a 2-day visit. Earlier today, the minister announced the expansion of the Global Innovation Alliance (GIA) network to Bengaluru at YourStory’s TechSparks, one of India’s largest start-up events.
With this expansion, innovation launchpads under the GIA network now have connections to 12 cities globally. This will also provide an opportunity to Indian start-ups to leverage Singapore's expertise & resources, as well as find a foothold in the South-East Asian market.
Iswaran will also witness the signing of four Memoranda of Understanding (MOUs) to drive collaboration and partnerships as part of the GIA network, including three by Enterprise Singapore.
He is also scheduled to meet key Indian business leaders to exchange views on the global economy and explore opportunities for closer economic cooperation between India and Singapore.
The minister will also meet top Indian corporates, start-ups, accelerators and venture capitalists to discuss opportunities to enhance the connectivity between the start-up ecosystems of both countries.
India is a significant trading partner of Singapore, with total bilateral trade amounting to SGD 26.4 billion in 2018. Singapore’s investments in India have also grown exponentially in the past decade with Singapore becoming India’s largest investor in the financial year 2018.