This is only the second time that the conference, launched in 2003, has been held outside India, after New York last year.

In his keynote speech, Prime Minister Lee Hsien Loong said Singapore is a natural gathering point for the Indian diaspora in the Asia Pacific.

He noted how those of Indian descent had contributed to Singapore from its early days.

'Many early Indians started out here as humble labourers and plantation workers, but succeeding generations have made their mark in government, business and the professions,' he said.

There are now 200,000 Indian expatriates in Singapore - one of the largest communities here. Mr Lee said the recent wave of migrants from India have brought 'strong entrepreneurial spirit and energy' to Singapore.

'They have added different experiences and perspectives to our society, and boosted our efforts to develop Singapore's R&D and financial sectors,' he added.

They have also helped enhance bilateral ties. The two countries signed a Comprehensive Economic Cooperation Agreement in 2005. Since then, bilateral trade has boomed, hitting $24 billion last year. Singapore is now India's second largest investor.

The diaspora conference is an opportunity for overseas Indians - some 30 million in all - to network and find ways to cooperate.

Read the full story in Saturday's edition of The Straits Times.