S'pore emerging as Indian Inc's gateway to world
Tuesday, 4 December 2007
NEW DELHI, Dec 3 (Xinhua): With more than 2,700 Indian firms operating in the country, Singapore has emerged as the favourite destination for Indian domestic corporates looking to internationalise their business, local newspaper The Indian Express reported today.
While bilateral trade between the two nations has gone up as expected post-Comprehensive Economic Cooperation Agreement (CECA) in 2005, it is Singapore's might as a leading hub for innovation and research and development (R&D) that has attracted Indian companies to set up shop there.
"Singapore is increasingly being used as a platform for Indian companies looking to internationalise their business, with the number of Indian companies venturing there growing at an annual rate of about 10 per cent," said International Singapore Economic Development Board Director (Asia Pacific) Aylwin Tan.
While bilateral trade between the two nations has gone up as expected post-Comprehensive Economic Cooperation Agreement (CECA) in 2005, it is Singapore's might as a leading hub for innovation and research and development (R&D) that has attracted Indian companies to set up shop there.
"Singapore is increasingly being used as a platform for Indian companies looking to internationalise their business, with the number of Indian companies venturing there growing at an annual rate of about 10 per cent," said International Singapore Economic Development Board Director (Asia Pacific) Aylwin Tan.