"In
the trade sector, recently, India has overtaken China,"
said Mr. Kwek Leng Joo, President, Singapore Chinese
Chamber of Commerce, addressing a seminar on 'business
opportunities with Singapore' organised by CII in Mumbai
today.
Seeking
immense potential for growth, the high-level delegation
is in India to enhance economic ties between the two
countries. The seminar commenced in Mumbai today. During
the three-day visit, the Singapore delegation will hold
extensive talks with Indian businessmen in search of
possibilities for venturing to Singapore.
Addressing
a gathering of Industry delegates which included senior
management of leading companies from the field of IT,
agriculture, bio-tech and life-sciences, Joo, who was
leading a high powered Singapore business delegation,
said that, "Singapore-based companies have realised
that China is not the only option for invetsment and
are targeting India which has a larger consumer market".
He further added that, we foresee good opportunities
for Singapore and India to involve in bilateral businesses
Talking
about the performance, Joo, stated that imports in petroleum,
aluminum, jewellery have increased to S$4 billion and
exports to Singapore, mainly of electronic goods, etc,
has increased to S$5 billion.
K
K Nohria, Past chairman, CII, said in his opening remarks
" Partnership between India and Singapore will
go a long way economically with our country reaching
new heights." He also added that CII-core group
in Singapore has been regularly visiting Singapore to
bring awareness of the businesses of India.
The
inaugural address was followed by one-to-one interactions
between
the delegates of the two countries, during the course
of which opportunities for trade and joint ventures
were explored.
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