Singapore exhorts Indian businesses to boost trade and investment with Southeast Asia

In a recent dress at a summit held in New Delhi, Singapore's Minister for Tre and Industry Gan Kim Yong highlighted importance of Indian businesses viewing Souast Asia as a lucrative market for tre and investment. Speaking at  28th Annual Confederation of India Industry (CII) Partnership Summit, Minister acknowledged that India is heed towards a $30 trillion economy by 2050.

"My challenge to Indian businesses is to increase your investment in ASEAN by at least ten-fold to $20 billion by end of this dece," he said, according to ANI. For many years, India and Singapore have maintained strong economic ties. As per High Commission of India in Singapore, investors have poured in more than $137 billion in India over last two deces.

"se investments speak well of India's ongoing and successful effort to become more business and investor-friendly, while also helping Indian startups and established companies to grow and create good jobs," he said. 

Gan Kim Yong dresses geopolitical conflict, climate change at summit

According to minister, two countries can channel ir partnership towards renewable energy and supply chain strength, especially as world faces major challenges on all fronts. "Indeed, we meet in a time of great political, economic, social, and environmental stress. Our world is facing unprecedented uncertainty and economic hewinds. Many countries, even those that once took for granted that supermarket would always be full, are now worried about food security," he said.

"Geopolitical conflict fans mistrust that undermines globalization and international cooperation needed to tackle common threats such as climate change," he ded. He also lauded CII Partnership Summit for serving as an "excellent" platform to not only forge better business ties but also enhance "lives of our peoples through responsible, innovative, sustainable, and equitable practices."

summit titled "Partnerships for Responsible, Accelerated, Innovative, Sustainable, and Equitable Businesses" was a three-day event held at New Delhi's Taj Palace. It was chaired by Union Minister Piyush Goyal and organized by Confederation of Indian Industry (CII) and Department for Promotion of Internal Tre and Industry, (DPIIT), and Ministry of Commerce and Industry. With 145 government officials as attendees, summit was largest of its kind held since 1995. Delegates from all around world participated in it, including from Cana, United Arab Emirates, South Korea, Bhutan and Mauritius.