Investment opportunities highlighted
India is inviting Singapore companies to invest in 22 Green Express Highways which are being set up at Rs.10 lakh crores across the country.
The invitation is being extended by Road Transport and Highways Minister Nitin Gadkari at a Singapore Symposium 2019 held in New Delhi on 20 June 2019.
He also urged Singaporean companies to invest logistics and industrial parks around road-highway network.
Gadkari called on Singapore companies to form joint ventures with the AAA-rated National Highways Authority of India (NHAI).
The symposium “Partners in a Connected World” was organized by the Confederation of Indian Industry and Institute of South Asian Studies (ISAS) of the National University of Singapore.
He also urged Singaporean companies to invest logistics and industrial parks around road-highway network.
Gadkari called on Singapore companies to form joint ventures with the National Highways Authority of India (NHAI) which has an AAA rating.
Gadkari said his Ministry was also seeking to develop inland waterways as a major mode of transportation of goods.
Already inland waterways are being used to transport goods from Varanasi in Uttar Pradesh to Haldia in West Bengal. The idea was to extend this waterway to Myanmar via the Brahmaputra river.
Singapore’s Communications and Information Minister & Minister-in-charge of Trade Relations, S. Iswaran highlighted the need to focus on digital connectivity to strengthen the bilateral relationship.
In particular, he mentioned that digital infrastructure could be used to improve trade facilitation by connecting the Single Window clearance for trade documentation of both countries.
He also stated that the two countries could work together in the area of Fintech.
Iswaran pointed out that the Indian IMPS system could be linked to Singapore’s FAST to facilitate instant transfer of funds.
Another area where he felt that the two countries could work together on was the area of Artificial Intelligence. Fiinews.com
