India offers immense business opportunities for companies from Singapore in areas such as manufacturing, urban growth and energy, an expert said here on Friday.
Speaking at a seminar to promote “Vibrant Gujarat”, annual summit to be held from January 11-13, 2015, Assistant CEO of International Enterprise Singapore (IES) Tan Soon Kim singled out expansion plans of the state’s liquefied natural gas re-gasification plants.
“Singapore companies can focus on urban solutions, energy and manufacturing,” said Tan. He was speaking at a seminar promoting “Vibrant Gujarat”, an annual summit to be held from January 11-13, 2015 in Gandhinagar.
Singapore companies have opportunities in residential, commercial, water management, educational and healthcare segments as India proceeds with its planned development of 100 smart cities, Tan told some 200 businessmen at the seminar.
He also urged Gujarat officials at the seminar to consider Singapore companies and their expertise in urban solutions in master planning, engineering and construction to facilities management and operations.
“Our companies can partner Indian companies to provide transportation, re-gasification, storage and trading services,” said Tan, referring to the LNG industry. He highlighted Singapore companies’ capabilities in clean energy, especially the solar system.
Among Singapore’s recent ventures in Gujarat, Tan pointed out Singapore’s Hyflux and Japan’s Hitachi joint venture for the development of a water desalination plant at Dahej Special Economic Zone (SEZ).
He said the two groups would organise a Singapore India Symposium in November to provide insights to Singapore companies about the initiatives of the new Indian government in New Delhi. This would prepare Singapore companies to venture into Gujarat as well as other parts of India.
Tan said the IES and the Singapore Business Federation would be leading a delegation of businessmen and experts to Vibrant Gujarat, the 7th business summit.
Meanwhile, the Vibrant Gujarat would become an expanded business forum for the entire country as it would be supported by the Central Government this year, said Lalnunmawia Chuaungo, the principal secretary of Gujarat’s Energy & Petrochemicals Department.
A big increase in overseas business community participation in the January summit was expected, though it was still early to state a specific delegation numbers, said Chuaungo who led the Gujarat business delegation to Singapore on Friday.