SICCI sets up South Asia Investment Desk
Singapore, with market size of US$327 billion, had always been an important strategic trading post, giving India trade access to the Far East, said Ganesh Kumar Gupta, President of the Federation of the Indian Export Organizations on 25 Jan 2019.
Speaking at a business forum, “India-Singapore Trade: Sustainability, Strengths and Strategies-Making it Work For Smaller Businesses”, he noted immense scope for expanding Indian exports through Singapore.
“Singapore had always been an important strategic trading post, giving India access to the Far East,” he said, highlighting, “immense scope of expansion of India’s exports”.
Over the last two decades, Singapore has positioned itself as the hub of India’s economic, political and strategic relationships in Southeast Asia, he observed at the India-Singapore Trade forum organized by the High Commission of India in Singapore on 25 Jan 2019.
He also noted Singapore’s participation in India’s development priorities such as smart cities, urban solutions, financial sector, skills development, ports, logistics, aviation and industrial parks.
Citing Singapore as both a leading investment source and destination for India, he said FIEO has been bringing large delegation of companies representing multiple sectors in Singapore International Indian Expo.
“We are hopeful that the visit will give an opportunity to the businessmen of both countries to have close interactions and enhance trade and economic ties,” said Gupta.
The FIEO president also invited a business delegation to India to have meetings with Indian businessmen.
“As FIEO has offices all across India, we will be happy to host such a delegation. Also, request the business community to approach us for any assistance required.”
National Investment and Manufacturing Zones (NIMZs) have been introduced as an important instrumentality, Khalid M Khan, Regional Chairman, FIEO (Western Region), told the forum, elaborating on developments in India.
Eight NIMZs have been approved along the Delhi-Mumbai Industrial Corridor and three are being set up in the states of Andhra Pradesh, Telangana and Odisha.
“These Zones are envisaged as integrated industrial townships with state-of-the-art infrastructure, energy efficient technology as well as skill development facilities for providing an enabling ecosystem for manufacturing industries,” said Khan in an update on progress made in industrializing India.
With India projected to have 10,000 start-ups by 2020, this tremendous growth presents opportunities for collaborations and partnerships between Indian and Singapore start-ups, added Dr T. Chandroo, Chairman of the Singapore Indian Chambers of Commerce and Industry (SICCI).
“SICCI is well-placed to assist Indian businesses especially the SMEs in their efforts to internationalise their business,” he assured.
He also announced the setting of South Asia Desk at the chambers as a response to the interest and enquiries from companies about growing opportunities in the South Asia markets.
The desk is part of the Chamber’s internationalization and focus strategy to assist Singapore SMEs and support in their endeavors to look beyond Singapore’s shores to expand their business into India, he told the forum. fiinews.com