Singapore expertise fits state requirements
Singapore, which has sent more than 180 companies to exploit business opportunities to India in 2018, is the preferred partner of Indian states which are looking for collaborations for developing infrastructure.
Highlighting this, India’s High Commissioner to Singapore, Jawed Ashraf, said there are at least half a dozen Indian states actively engaged with Singapore, pursuing collaborations and investments.
He said the India opportunities in sectors such as new cities, urban solutions and renewal, skills development and logistics facilities.
Jawed Ashraf give an indepth perspective to India-Singapore collaboration for businesses at the conference on “Doing Business with Indian States: Opportunities and Way Forward”. More than 180 business executives attended the conference on 25 Mar 2019.
“The areas of strength for Singapore are precisely the areas in which states are looking for opportunities for collaboration,” he said.
“There is a natural match in many ways between what Singapore brings in terms of unique value propositions and what the state governments require,” Jawed Ashraf underlined.
He highlighted a number of Singapore companies that have advanced experience in working in different states, including Ascendas-Singbridge, Sembcorp, Meinhardt and YCH.
These companies have developed the kind of experience and expertise it takes to work in different environment in each state, he pointed out.
The High Commissioner also highlighted India’s growth story and transformation as also opportunities that are widely known in the country.
“Business chambers and companies now increasingly focus on individual states, especially because of the size and diversity of India. That is why Singapore chambers and even government agencies increasingly focus on specific states,” said Jawed Ashraf.
He outlined the role of states in India’s economic development, growing autonomy of states in promoting attracting investments and creating jobs, the new spirit of competitive and cooperative federalism, centre’s (New Delhi) support for states and steps states are taking to improve ease of doing business in states.
In 2018, over 180 Singapore companies were engaged in various sectors to grow their business in India, according to Tan Soon Kim, assistant chief executive officer of Enterprise Singapore, a state agency promoting Singapore businesses globally.
“This is an exciting time to be in India as the US$2.3 trillion economy growing 7% annually. India is poised to become one of the largest growth engines in the world,” he told the conference.
Tan urged Singapore companies to explore opportunities in three sectors in India – consumer, urban solutions and manufacturing.
He pointed out that the growing middle class in India is driving the consumer economy while the urban solutions segment seeks the whole chain of smart technologies and manufacturing were being driven by international manufacturers, including Samsung which has the world’s largest mobile phone factory in India.
The conference featured presentations by Punjab, Delhi and Andhra Pradesh and by Invest India on facilitating business at state levels.
The conference was jointly organized by the High Commission of India in Singapore, NITI Aayog, Enterprise Singapore, Asia Competitive Institute at Lee Kuan Yew School of Public Policy, Institute of South Asian Studies and Invest India. fiinews.com
