SINGAPORE - Singapore tech companies can now pilot new innovations in India and learn best practices from Indian tech companies - following a memorandum of understanding (MOU) signed between International Enterprise (IE) Singapore and the Confederation of Indian Industry (CII) on Monday (Jan 8).

The MOU aims to facilitate business partnerships and knowledge exchange between Singapore and Indian companies in the tech sector.

As a result of the MOU, Singapore companies can participate in programmes jointly organised by IE Singapore and CII to better understand India's tech landscape and connect to partners in the ecosystem.

Both organisations will also build engagement platforms to bring together next-generation Indian and Singaporean tech business leaders, said IE Singapore.

India is emerging as the world's third-largest startup base, with over 5,000 tech startups in 2017, according to IE Singapore. The US and the UK take the top two positions.

CII, formed in 1985, is an industry-led organisation that drives India's economic development. It comprises Indian business leaders from companies including Apollo Hospitals Enterprise, Bharti Enterprises and Jetline Group.