Singapore is eyeing cities like Hyderabad, Chennai and Mumbai for developing special economic zones. It is also looking at collaborating with educational institutions in India for student exchange programmes.
A Singapore Infrastructure Mission delegation led by Gan Kim Yong, minister of state for education and manpower, government of Singapore, visited these cities to study investment opportunities.
This was a follow-up to the earlier visit made by Singapore's senior minister Goh Chok Tong to India in January this year, when he had evinced interest in joint development of SEZs in India, Yong said on the sidelines of a meeting organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry in Hyderabad on Friday.
"We are here to facilitate joint development between the two countries and study the government regulations that the Singapore companies will have to address in such a collaboration. Our companies are interested in setting up both sector-specific and multi-product SEZs in India.
They are open to investing in setting up individual units in the SEZ as well," Yong said.
Besides Singapore government officials, the delegation included private sector representatives like Ascendas, Surbana International Consultants, Mitsubishi Corporation (Singapore branch) and SembCorp Industries. The Japanese External Trade Organisation (Jetro) was also a part of the group.
With regard to collaboration with schools and colleges, Yong said they visited some institutions and were looking forward to facilitating student exchange programmes.
The bilateral trade between India and Singapore is estimated to be Singapore $16.6. Singapore companies have invested over $1 billion in India.