The Hindu Business Line : `We want more Indian cos to come to Singapore'

Hyderabad April 10 Singapore is interested in forging industry partnerships with India in infrastructure, service sector and education, among others, according to Mr Tharman Shanumugaratnam, Minister for Education and Second Minister for Finance, Singapore.

Speaking to newspersons after an interaction with industry representatives arranged by the Confederation of Indian Industry (CII) here on Monday, Mr Shanumugaratnam said there was much scope to improve Indo-Singapore bilateral economic ties.

"As we have good experience in building townships, infrastructure and township building can be a potent area of collaboration. We can replicate the Singapore experience in India as far as townships are concerned," he said.

On the IT sector, the Minister, who is leading a business delegation to India, said more than numbers, Singapore was interested in-depth relationship in knowledge-based operations. "We are strong in providing business continuity management and risk mitigation solutions besides legal services consultancy," he said.

As Singapore had a sound system of technical and education system, it could tie-up with public and private schools in India to provide support in enhancement of skills. "My delegation includes some school principals and a collaboration can be worked out soon," he said.

Call to IT

Earlier, while addressing the industry representatives, Mr Shanmugaratnam said more IT companies were welcome in Singapore. "Satyam is amongst the key players in Singapore. Though the number of companies grew by 50 per cent in 2,600 in last two years, we want more Indian companies to come to Singapore,'' he said.

Greater collaboration was possible in engineering services, healthcare, manufacturing and food processing, among others, he said.

"India and Singapore share a deep cultural synergy. Being a small city, Singapore survives by constantly recreating itself culturally to retain its cosmopolitan nature," the minister said, adding that the city could accommodate another 7.5 million people. Singapore currently has about 4.5 million population.

$3 trillion GDP

Mr B. Ramalinga Raju, Chairman, NASSCOM and Satyam Computer Services Ltd, explained to the delegation the strength of Indian IT sector. "Very soon, our country's GDP crosses a trillion dollars and it is exciting to learn from Singapore's success story," he said.

In the first seven months of the last fiscal, Singapore's investment into India stood at $520 million. Many others, including Mr Rajaram, Chairman, Singapore Chinese Chamber of Commerce and Industry, also spoke. Mr B.V.R. Mohan Reddy, Deputy Chairman, CII Southern Region welcomed the gathering.