Indian pharmaceutical companies could use Singapore as a development base as the Centre is keen on encouraging the sector, said the K Shanmugam, Minister for Foreign Affairs and Law, Singapore.

Speaking at the Singapore Symposium 2015 he said as a country it has tight IP protection which makes it conducive for pharma companies.

There is a huge potential for India to be a favoured destination for health care centre in Asia. Shanmugam said, “If people from West are coming to India for treatment, I don’t see why people from Asia cannot do the same.”

Economic reform Stating that though India should involve itself in the global economic trade activities, the Minister said India’s internal economy has to be vigorous in order for that to happen.

“If the India could remove the internal blocks, it would be able to engage in trade agreements with other countries on their own terms” and compete within South Asian countries, he added.

India should be proactive in improving its trade by taking initiatives like Maritime Silk route undertaken by the China. Shanmugam said, “India with its $2-trillion economy can afford to take chances, engage with other countries strategically and economically” which will benefit the country.

The development of Andhra Pradesh’s new capital Amaravathi will tighten trade ties.

Pang Yee Ean, Group Chief Operating Officer, Surbana Jurong Private Limited, which handled the designing, said it is a green field development on 7,000 square kilometres, keeping in mind sustainable development and economic viability. The design phase that started in January was completed in July.

He said they will be involved in the detailed planning as well, which is under process now.

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