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Our Bureau

New Delhi , March 14

India and Singapore will review the Comprehensive Economic Cooperation Agreement (CECA) later this month with the objective to enhance trade and investment between the two countries.

India would identify reasons for a lower than expected growth rate in investment from Singapore into India and remove procedural bottlenecks to boost investment, said the Special Secretary, Ministry of Commerce and Industry, Mr Gopal Pillai.

The pact was signed last year to offer an integrated package governing trade in goods and services, an agreement on investment, mutual recognition agreements in services and co-operation agreements in areas such as education, e-commerce, media and intellectual property.

Speaking at a meeting organised by the Confederation of Indian Industry on `India-Singapore: Emerging Opportunities', he said, ``Investment flows from Singapore to India have not really taken off. Though investments have increased, it has been far below expectations. This is one area that will be discussed.''

Investments in infrastructure such as power, ports, airports, and railways in terms of container services were areas where tremendous amount of investment was needed.

India could tremendously benefit from Singapore's expertise both in logistics and in the real estate development sector, he said.

In his address, the Deputy Secretary (Trade) Ministry of Trade and Industry, Singapore, Mr Loh Wai Keong, said, "Both countries are committed to reviewing and updating the CECA so that the edge it provides can be further sharpened and it remains relevant to the business communities from both countries."

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