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BW Businessworld

Singapore Calling

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The Singapore Exchange (SGX) will soon start an office in Mumbai. Already, as many as 20 Indian companies are listed on the SGX. Indian firms (more than 5,000) top the list of overseas ones operating out of Singapore, says Ralph Foong, regional   director, India and Middle East, Singapore  Economic Development Board.

In 2010-11, Singapore attracted investments worth $3.9 billion. India was the   southeast Asian country's ninth largest trading partner in 2011 with total trade amounting to S$35.4    billion, up from S$30.7 billion in 2010, consisting mainly of electronic items and precision equipment.

Singapore is a favourite investment destination for major Indian firms such as TCS, Wipro, Infosys, Mahindra, Tata Steel (which acquired NatSteel in 2004), Tata Capital and Tata Communications. Punj Lloyd, which acquired Sembawang Engineers & Constructors in 2006, and Lanco Infratech also have a presence in Singapore.

Transparent and easy guidelines for investment, a flat corporate tax of 17 per cent, lack of capital gains tax and withholding tax are attracting investments to Singapore, says Ralph.

(This story was published in Businessworld Issue Dated 18-06-2012)