Grant-Fueled Grit: How Indian SMEs in Singapore Are Outmaneuvering Tariffs

Image Source: ETV Bharat

Singapore has introduced a Business Adaptation Grant to help Indian-origin businesses and SMEs in Singapore adapt to the new world trade landscape fueled by new US tariffs. The scheme, introduced by Singapore Economic Resilience Taskforce, will be rolled out in October 2025.

Key Points

The grant offers SGD 100,000 (approximately USD 78,000) maximum to every eligible company

It targets two categories of business: exporters and manufacturing companies with local or foreign operations

SMEs will be eligible for a higher level of co-financing than multinational corporations

Support Measures

Firms can utilize the grant to re-evaluate supply chains, re-price strategies, and venture into new markets

Financing will also cover trade advisory services, compliance with the law, and logistics reconfiguration

The award is for a two-year period and entails co-investment by participating firms

Indian Business Impact

The Singapore Indian Chamber of Commerce and Industry (SICCI) has also appreciated the move, terming it a timely intervention

SICCI will also partner with Enterprise Singapore to make it easy to access and utilize the grant by Indian firms

The program is also expected to cushion indirect threats from US protectionism policies that already affected surrounding countries like Indonesia and Malaysia

Forecasting

As SMEs employ two-thirds of Singapore's employees, the grant will be assisting in enhancing competitiveness and resilience

Indian companies will benefit through repositioning strategically and enhanced trade responsiveness

Sources: Economic Times, Times of India, PTI, LiveMint, Straits Times