More opportunities to come from India for Singapore businesses: Iswaran

Second Minister for Trade and Industry S. Iswaran speaking at the Singapore Management University on May 21, 2014. -- PHOTO: SINGAPORE MANAGEMENT UNIVERSITY
Second Minister for Trade and Industry S. Iswaran speaking at the Singapore Management University on May 21, 2014. -- PHOTO: SINGAPORE MANAGEMENT UNIVERSITY

SINGAPORE - There will be more opportunities for Singapore companies in India with the new administration's plans for the economy, Mr S. Iswaran, Second Minister for Trade and Industry, said On Friday.

Prime Minister Narendra Modi has a vision to develop 100 smart cities by 2020, and there may be business opportunities for Singapore companies providing urban solutions such as energy, water, and transport, said Mr Iswaran.

Speaking at the Singapore-India Business Symposium, he said: "One area where Singapore can contribute is in India's mission to develop smart and sustainable cities.

"We have been requested by the Indian government to share our experiences in urbanisation and city development."

Mr Iswaran, who is also Minister in the Prime Minister's Office, noted that Singapore's government agencies and the private sector can share their expertise in urban solutions and smart cities.

He said: "We are, therefore, actively considering how best to work with the central government on its Smart Cities initiative, and also with states like Andhra Pradesh on its Capital City project."

Mr Tan Soon Kim, assistant chief executive officer of IE Singapore, noted that India's operating environment has often been challenging for businesses.

He added: "The reforms and initiatives announced recently directly address this issue and signal a positive shift.

"If seen through, this creates tangible opportunities for businesses in one of the world's largest markets."