India has invited Singapore to explore opportunities of investing in township development projects and mass rapid transit systems, where 100 per cent foreign direct investment is allowed.
Union Minister for Urban Development and Transport B C Khanduri on Monday met a visiting Singaporean delegation led by National Development Minister Mah Baw Tan in New Delhi, an official release said.
Khanduri briefed the delegation on various measures taken by the Indian government to promote investment in infrastructure sector and real estate sector.
He highlighted government's initiative in allowing upto 100 per cent FDI in integrated township development and mass rapid transit system in all metros including associated real estate development.
Khanduri said the National Highway Development Programme too offered a major opportunity for investment.
On Comprehensive Economic Cooperation Agreement between the two countries, he said it has identified growth of convention centres and urban planning to be the common beneficial areas under the urban infrastructure segment.
The minister also said Singapore's expertise in recycling and desalination of water could be useful for Indian cities like Chennai, Rajkot and Jamnagar.
Khanduri also said India could meet Singapore's demand for skilled labour by outsourcing or establishing contractual relation with professionals.
