Singapore to help India set up SEZs

Special Correspondent

Plans to boost bilateral economic cooperation  





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Consulate in Chennai getting upgraded
Simplification of visa procedures
Scope for tie-ups in IT, life sciences
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NEW DELHI: The Comprehensive Economic Cooperation Agreement (CECA) between India and Singapore signed last year is entering the next stage with latter's intent to assist in developing special economic zones in India, said Singapore's Senior Minister of State for Foreign Affairs, Information, Communications and the Arts, Balaji Sadasivan.

"This could become Singapore's flagship venture in India and an area where the two countries can cooperate in bringing multinational companies to set up manufacturing bases in India," said Mr. Balaji while speaking at a luncheon organised by the Confederation of Indian Industry (CII) here on Monday.

Elaborating further, he said, in addition to manufacturing, companies in the services sector could also be invited to invest and make India a base for their operations. Singapore is taking many steps to facilitate the growth of bilateral business.

That India is important to Singapore is underlined by the fact that the consulate in Chennai is being upgraded and visa procedures for Indian businessmen and travellers are being simplified, Mr. Balaji added.

According to him, the Singapore government is willing to `bend backwards' to welcome foreign investors into Singapore and is committed to providing a level playing field for all companies.

The Minister added, if any Indian company feels that Singapore companies are being given an unfair advantage by a particular law or clause of the Government of Singapore, they are free to bring it to the notice of the Ministry of Foreign Affairs of Singapore for reconsideration and review.

Two areas that offered good scope for cooperation between Indian and Singaporean companies were information technology and life sciences, including research and healthcare. Singapore is planning a `fibre-to-home' project where all homes will be given a fibre optic connection to raise bandwidth to one gigabyte per second.

It is also planning to make the entire island wireless to facilitate mobility. This would facilitate the development of internet-based high definition television. "Any company interested in launching new products in this area is welcome to Singapore as it is an ideal place for market research."

Activity on the ground has moved even faster than in the political arena. Apart from the CECA and Singapore's initiatives to include India in the ASEAN+6 (the East Asia) grouping, "there is need for more political engagement to deepen bilateral ties," the Minister said.

The Singapore team will be visiting Bihar to explore the rejuvenation of the Nalanda University, one of the foremost seats of learning in the ancient world. This is being considered in collaboration with the UNESCAP. There is renewed interest in the shared culture of India, China and Southeast Asia that were once closely connected by the old Silk Route.

Following the CECA, bilateral trade jumped 41 per cent in 2004-2005 from $11 billion to $16 billion, Mr. Balaji said. The growing commercial interests between the two countries were manifest in the fact that getting seats on flights between them is getting harder. Singapore outsources its radiology to India, recruits Indian doctors and nurses and has signed research agreements with Indian medical institutes, the Minister said.

http://www.hindu.com/2006/09/26/stories/2006092604451700.htm