The 792-room luxury five-star hotel has been mentioned as a possible venue for the talks as it has held major conferences over the years.
A beautiful rendition of 'Vaishnav Jan To Tene Kahiye', a favourite bhajan of Mahatma Gandhi, was sung on the occasion.
"No other relationship of India has as many layers as our relations with China. We are the world's two most populous countries and among the fastest growing major economies. Our cooperation is expanding," he said.
"The biggest challenge before us is that the 21st century belongs to Asia. But do we have this sentiment, I think that is the biggest challenge," he said.
Modi hailed the close defence cooperation between the two countries and welcomed the completion of the logistics agreement between the two navies.
He said that India will work with Singapore to bring the Regional Comprehensive Economic Partnership to early conclusion. He also said the India-Singapore Comprehensive Economic Cooperation Agreement has been reviewed and the two sides will work to further upgrade it.
The Nifty Options would add to SGX's suite of Asian equity derivatives, which include SGX S&P CNX Nifty futures, the dominant Indian product for international participants.
Tens of thousands of people on Sunday braved heavy rains to bid a teary adieu to Singapore's founding leader Lee Kuan Yew in a grand funeral attended by many world leaders, including Prime Minister Narendra Modi
Hard selling India as an investment destination at the WEF, Modi said the government is following the principle of reform, perform and transform.
Under the tagline of 'India means business', the roundtable was attended by 40 CEOs of global companies and 20 from India.
Modi, the first Indian prime minister to attend the summit in two decades, would deliver the opening plenary address at the summit on Tuesday.
India's foreign reserves continue to march to record highs, touching USD 393 billion early this month backed by strong foreign portfolio and investment flows, according to Development Bank of Singapore.
He said the 2 countries have handled border issues in the past.
It further said India is facilitating external commercial borrowings by startups in order to encourage innovation and promote ease of doing business.
"We have tweeted that the two leaders discussed a range of issues. A range of issues means a range of issues. I don't want to add anything further... I leave it to you to draw your conclusion," external affairs ministry spokesperson Gopal Baglay said.
The two-day G20 Summit saw the Indian side making "significant contributions" on resolve to counter terrorism and boost global trade and investment.
Mallya has been in the UK for months, escaping arrest warrants against him.
Arvind Panagariya, sherpa for India at the summit, tweeted about the "interaction".
The G20 leaders resolved to facilitate swift and targeted exchanges of information between intelligence, law enforcement and judicial authorities on operational information-sharing, preventive measures and criminal justice response.
Modi regretted that the international response to terrorism was weak and said more cooperation was needed to fight the menace.
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