India, Singapore firms invest $ 51 billion in each other's markets

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SINGAPORE: Indian and Singapore businesses lead in investing in each other's markets, tapping on business growth potential, having committed $51 billion.

Singapore was India's largest investor last year with $5.98 billion, or a quarter of the inflow, and $ 26 billion accumulatively since 2000, reported Tabla!, an English language weekly here today.

Comparatively, Indian companies have made accumulative investment of close to $25 billion in Singapore, said the tabloid in a report on 50 years of India-Singapore Diplomatic relations.

"The Indian FDI (Foreign Direct Investment) into Singapore has grown at a whopping compounded annual growth rate of 381 per cent since 2005," said Anil Kishora, country head and Chief Executive Officer of the State Bank of India in Singapore.

The investment was especially boosted by the India-Singapore Comprehensive Economic Cooperation Agreement signed in 2005.

The tabloid pointed out that Indian investment in Singapore has surpassed China's $14.2 billion during the same time.

Some 6,000 Indian companies are registered in Singapore at the latest count, making it the largest business community in the city state. Two years ago, the number was 4,000, according to Indian businessmen.

Tata Group's activities in Singapore today are a microcosmic representation of its $100 billion ventures across 100 companies worldwide, said KV Rao, Tata's Singapore-based resident director for the Asean region.

Analysts said Indian companies see a growing international business opportunities to be in Singapore, especially using it as a platform to venture into the region and the world as they globalize.

Singapore is a major routing point for setting up holding companies that are used for international investment in Asia or globally, as it is an international financial centre with easier financing and refinancing schemes.

India, Singapore firms invest $ 51 billion in each other's markets - The Economic Times

 

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SINGAPORE: Prime Minister Lee Hsien Loong and President Tony Tan Keng Yam congratulated India's leaders on the occasion of the country's 68th Independence Day.

According to a press statement from Singapore's Ministry of Foreign Affairs on Friday (Aug 15), Mr Lee wrote to Prime Minister Narendra Modi to convey his best wishes and to express confidence that "India will continue to achieve new heights" under the Modi government’s "able leadership".

"Singapore’s unique bond with India is underpinned by decades of shared history, culture and kinship," Mr Lee stated. He noted that today, Singapore is one of India's top investors and trading partners, and the countries share strong defence ties.

With the two coutries' 50th anniversary of diplomatic relations coming up next year, Mr Lee told Mr Modi he hopes "it will be a fitting time for us to explore new pathways of cooperation and elevate our ties to a higher level."

In his letter to President Pranab Mukherjee, Dr Tan called India a "cherished friend of Singapore". "Our excellent state of relations is manifested in substantive collaboration in many fields, and I am, in this regard, greatly heartened that we are looking to further expand our cooperation. It is my sincere hope that our longstanding friendship will continue to blossom for the mutual and lasting benefit of our people," Dr Tan wrote.

Singapore leaders congratulate Indian counterparts for India's Independence Day - Channel NewsAsia

 

[Echo_419]

SINGAPORE: Indian and Singapore businesses lead in investing in each other's markets, tapping on business growth potential, having committed $51 billion.

Singapore was India's largest investor last year with $5.98 billion, or a quarter of the inflow, and $ 26 billion accumulatively since 2000, reported Tabla!, an English language weekly here today.

Comparatively, Indian companies have made accumulative investment of close to $25 billion in Singapore, said the tabloid in a report on 50 years of India-Singapore Diplomatic relations.

"The Indian FDI (Foreign Direct Investment) into Singapore has grown at a whopping compounded annual growth rate of 381 per cent since 2005," said Anil Kishora, country head and Chief Executive Officer of the State Bank of India in Singapore.

The investment was especially boosted by the India-Singapore Comprehensive Economic Cooperation Agreement signed in 2005.

The tabloid pointed out that Indian investment in Singapore has surpassed China's $14.2 billion during the same time.

Some 6,000 Indian companies are registered in Singapore at the latest count, making it the largest business community in the city state. Two years ago, the number was 4,000, according to Indian businessmen.

Tata Group's activities in Singapore today are a microcosmic representation of its $100 billion ventures across 100 companies worldwide, said KV Rao, Tata's Singapore-based resident director for the Asean region.

Analysts said Indian companies see a growing international business opportunities to be in Singapore, especially using it as a platform to venture into the region and the world as they globalize.

Singapore is a major routing point for setting up holding companies that are used for international investment in Asia or globally, as it is an international financial centre with easier financing and refinancing schemes.

India, Singapore firms invest $ 51 billion in each other's markets - The Economic Times

Hindi-Singapori BHAI BHAI