India's view of the world · A factual referenceLast updated 12 May 2026 · Edition 04
COUNTRY RELATIONSHIP · SINGAPORE
India & Singapore
COMPREHENSIVE STRATEGIC PARTNERCECA IN FORCEUPI LIVEDEFENCE PACT
India and Singapore share one of Asia's most mature bilateral partnerships, anchored by deep commercial ties, a large Indian-origin community, defence cooperation, and fintech linkages including the live UPI-PayNow connection. Relations were elevated to a Comprehensive Strategic Partnership in 2015. Singapore is India's largest FDI source in Southeast Asia and a critical financial hub for Indian companies accessing capital markets.
COOPERATION AREAS
Where India and Singapore actually work together
5 active areas of cooperation, as of July 2026. Click any card for the full brief.
TRADE & INVESTMENT
By the numbers
Approximate figures for FY 2023-24 including goods and services. Singapore is India's largest FDI source from ASEAN. Source: MEA, DGFT.
$35bn
Total bilateral trade in goods
$11bn
India exports to country
$24bn
India imports from country
Trade trajectory · USD bn
$35bnin FY24 · click a bar to compare years
TOP TRADED ITEMS
AGREEMENTS & MILESTONES
The relationship since 1965, in 7 dates
CURRENT STATE
Where things stand, 2026
The relationship is in sustained high-performance mode. UPI-PayNow has exceeded initial transaction targets, trade remains above USD 30 billion, and defence exercises continue their unbroken annual cadence. The CECA upgrade negotiations are the main open item on the economic front, while the fintech corridor continues to deepen with new services being added to the UPI-PayNow framework.
SIGNALS TO WATCH
On track / positive momentum
In progress / worth watching
Stalled or facing headwinds
Not yet started / unclear
IN CONTEXT
How India and Singapore cross paths multilaterally
