India, Singapore firms invest $51b in each other's markets

Tags: News
Indian and Singapore businesses lead in investing in each other's markets, tapping on business growth potential, having committed $51 billion.

Singapore was India's largest investor last year with $5.98 billion, or a quarter of the inflow, and $26 billion accumulatively since 2000, reported Tabla!, an English language weekly here today.

Comparatively, Indian companies have made accumulative investment of close to USD 25 billion in Singapore, said the tabloid in a report on 50 years of India-Singapore Diplomatic relations.

"The Indian FDI (Foreign Direct Investment) into Singapore has grown at a whopping compounded annual growth rate of 381 per cent since 2005," said Anil Kishora, country head and Chief Executive Officer of the State Bank of India in Singapore.

The investment was especially boosted by the India-Singapore Comprehensive Economic Cooperation Agreement signed in 2005.

The tabloid pointed out that Indian investment in Singapore has surpassed China's USD 14.2 billion during the same time.

Some 6,000 Indian companies are registered in Singapore at the latest count, making it the largest business community in the city state. Two years ago, the number was 4,000, according to Indian businessmen.

Tata Group's activities in Singapore today are a microcosmic representation of its USD 100 billion ventures across 100 companies worldwide, said K V Rao, Tata's Singapore-based resident director for the Asean region.

Analysts said Indian companies see a growing international business opportunities to be in Singapore, especially using it as a platform to venture into the region and the world as they globalize.

Singapore is a major routing point for setting up holding companies that are used for international investment in Asia or globally, as it is an international financial centre with easier financing and refinancing schemes.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Changes to FDI investment norms for housing look cosmetic

    The policy measures announced on Wednesday for facilitating greater participation of foreign direct investment (FDI) in the real estate sector do not

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Energy conservation through feedback

In households across the world, people use electric energy not ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture