Lee, 91, died of severe pneumonia on March 23.
The Prime Minister will be attending the funeral of Lee, the Spokesperson in the External Affairs Ministry said.
In his condolence message after Lee's demise, Modi had said, "A far-sighted statesman and a lion among leaders, Lee Kuan Yew's life teaches valuable lessons to everyone. News of his demise is saddening."
Read more: Lee Kuan Yew was lion among leaders: Modi
Apart from Modi, several world leaders are expected to attend Lee's funeral, including former US President Bill Clinton, South Korean President Park Geun-Hye, Australian Prime Minister Tony Abbott, Indonesian President Joko Widodo and Malaysian King Abdul Halim Shah.