The Hindu Business Line : `Singapore ideal pick to set up production'

Singapore would be one of the ideal locations in the ASEAN and East Region for the Indian business to set up production facilities for reaching other international markets. Attractive incentives offered by the island nation and its infrastructure facilities were strong factors for investors.

Stating this here on Wednesday, Mr John Panikar, Vice-President, Bangalore Chamber of Commerce and Industry (BCCI), said, "the recent signing of Comprehensive Economic Cooperation Agreement (CECA) signed by India and Singapore would help furthering the trade between the two nations. Singapore is an obvious pick because of its robust technology eco-system, highly skilled and talented pool of employees, pro-business environment with low taxes and free trade, sound infrastructure and good connectivity, well regulated yet flexible financial infrastructure and sound intellectual property policies."

Earlier at an interactive session with the BCCI members, Mr Allan Tay Hon Guan, Consultant, International Enterprise (IE) Singapore, said there were about 1,500 Indian companies in Singapore, out of which 400 belonged to software sector, while the remaining were trading companies.

Stressing that there were plenty of opportunities, he said newer areas such as nanotechnology, infocomm to manufacturing technology offered a variety of business opportunities for investors.

Mr K.R. Girish, Chairman, Direct Taxes Committee, BCCI, said India was going through a phase of rapid development and was considered a key emerging market by the rest of the world. In the last decade, it has managed to integrate well with the global economy and continue reforms on a standard basis to complete the integration process.

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