labels: confederation of indian industry, finance - general, economy - general
Trade between India and Singapore have increased by 35%news
Our Corporate Bureau
11 January 2005
"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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Trade between India and Singapore have increased by 35%