PM asks Singapore firms to invest in Indian infrastructure
01 July 2005
01 July 2005
New Delhi: Prime Minister Manmohan Singh has sought increased investment from Singaporean companies in order to boost the development of India''s infrastructure.
are aware of the strengths of your companies in various
sectors and we welcome investment particularly in developing
our infrastructure, which will require huge capital in
the years to come," Singh said at a banquet in honour
of Singapore Prime Minister Lee Hsien Loong at Hyderabad
House Wednesday night.
cabinet ministers, including Finance Minister P. Chidambaram,
Commerce and Industry Minister Kamal Nath and Home Minister
Shivraj Patil, along with distinguished invitees such
as businessmen Ratan Tata, Sunil Mittal, media baron Subhash
Chandra and actor Rani Mukherjee, attended the banquet.
CECA, which will come into effect Aug 1, is an integrated
package comprising a Free Trade Agreement, a bilateral
agreement on investment promotion and protection, an improved
double taxation avoidance agreement and a work programme
of cooperation in healthcare, education, media and tourism.
the CECA "a historic milestone in our bilateral ties,"
he also thanked Singapore for playing "an important
role" in helping forge "an ASEAN consensus"
on India''s participation in the first East Asia Summit
to be held at Kuala Lumpur in December this year.
"We have admired your rapid growth and progress to economic prosperity under the visionary leadership of Prime Minister Lee Kuan Yew and his successors. You have managed to sustain high levels of economic growth while maintaining social and religious harmony and public order and discipline," he told Lee, son of former prime minister Lee Kuwan Yew.