Singapore has cautious optimism for India's new government: Shanmugam
Published on Jun 30, 2014 10:15 PM
SINGAPORE - A CLEAR mandate for Prime Minister Narendra Modi is a sea change for India after years of coalition governments that slowed decision-making, and Singapore is approaching the development with cautious optimism, Foreign Minister K. Shanmugam said.
Speaking to The Straits Times yesterday shortly before leaving on a five-day visit to India, Mr Shanmugam said the caution arises from the complexities of the Indian system.
"Given all that, the stark difference is being one (government) with a clear majority and mandate, and one which had to operate without, and that by itself leads to a considerable degree of cautious optimism," he said.
The business-friendly Mr Modi has vowed to focus on development. Analysts said this could mean a huge focus on infrastructure, offering opportunities for investors in China, Singapore, South Korea and Japan.
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