Singapore group launches eighth IT park in India

DPM Tharman says Ascendas-Singbridge's latest project will set new standards

Singapore's Deputy Prime Minister Tharman Shanmugaratnam yesterday officiated at the launch of an IT park in Gurgaon, the eighth being developed by Ascendas-Singbridge in India.

The 24ha International Tech Park Gurgaon (ITPG) is currently under development, with the first building scheduled to be completed late next year.

"This new International Tech Park in Gurgaon is going to set new standards, which is what we should aim to do," Mr Tharman said.

"Each new park shouldn't simply replicate the last. We should set new standards whether in environmental friendliness, convenience to workers, something that makes businesses feel that there is a difference here."

He called the US$400 million (S$544 million) project "a very significant investment" in India.

Gurgaon is a satellite city of Delhi in Haryana state. Popularly known as India's Millennium City, it houses multinational corporations such as Microsoft Corp, Dell and Google and remains a top destination for companies because of a conducive business environment and good housing facilities for employees.

The ITPG being developed by Ascendas-Singbridge will offer 8 million sq ft of business space for an estimated 60,000 professionals, the company said in a statement.

The park will also offer spacious food courts and conveniences such as banking, transport and covered parking spaces.

Ascendas-Singbridge, which has been active in India for about two decades, has built seven other IT parks in cities such as Bangalore, Pune, Chennai and Hyderabad.

The Gurgaon park is the company's first major project in northern India.

"India has been very fortunate to have growth from the IT sector and the momentum seems to be continuing," said Mr Sanjay Dutt, the company's chief executive officer for India operations.

India and Singapore share close political and economic links, with Singapore's total foreign direct investments in India amounting to US$45.89 billion since 2000, according to Indian government figures.

Mr Tharman said yesterday he hopes the ITPG will set a benchmark in India and the world.

"Let us make this special for Haryana, for India, for India-Singapore relations and for the rest of the world to see something here that is worth emulating," he said.

Last Friday, Mr Tharman called on Prime Minister Narendra Modi and also delivered the inaugural lecture for a series on Transforming India organised by the government think- tank NITI Aayog.

A version of this article appeared in the print edition of The Sunday Times on August 28, 2016, with the headline 'S'pore group launches eighth IT park in India'. Subscribe