Singapore, The Singapore Indian Chamber of Commerce and Industry plans to strengthen its engagement with the Indian government, policymakers and industry as part of its strategic roadmap, with a focus on boosting cross-border trade, particularly with India’s booming economy, its newly appointed Chief Executive Officer Pradeep Menon said.
Over the next three to six months, the chamber plans to deepen its engagement with Indian government leaders, policymakers and industry networks. It is also organising targeted trade missions to key Indian states, beginning with Tamil Nadu, to unlock commercial opportunities for Singapore-based firms, he said in a news report.
Indian enterprises look to Singapore for “rich know-how knowledge” that can enhance business productivity in a cost-effective manner, while Singapore businesses gain access to India’s vast consumer market and deep talent pool, Menon was quoted as saying by Friday weekly Tabla!
“It’s kind of symbiotic. India benefits from us, and we too, want to go into India. The market is humongous,” he said. “We want to be part of the growth. We want a slice of the pie.”
India, which recorded 7.8 per cent GDP growth in the first quarter of fiscal year 2026-27, is also a key source of manpower and talent for Singapore.
“One of the biggest problems today’s businesses are facing is manpower, talent,” Menon said.
“Singapore is never going to be able to overcome its talent shortages organically or domestically. We will have to rely on international talent, and India is one of the markets that can continue providing that,” he said, according to the report by the Indian-community and business-focused weekly.
SICCI also aims to strengthen Singapore’s role as a trusted, rule-based gateway for regional capital, including investors from the Association of Southeast Asian Nations seeking transparent access to India’s fast-growing economy.
Menon took over as SICCI CEO last month. He had previously served as CEO of the chamber from 2003 to 2010.
ASEAN member countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Timor-Leste, the Philippines and Vietnam.
ASEAN’s GDP grew at an average annual rate of 4 per cent from 2015 to 2024, when it stood at about USD 3.9 trillion. Its population of 683 million is considered a major export market for Indian products, with the Philippines and Vietnam listed as importers of high-value defence equipment, industry and diplomatic observers said.
Singapore is the biggest source of foreign direct investment into India, with an inflow of nearly USD 15 billion recorded in fiscal year 2024-25, according to published data here. The prosperous island state has been a leading FDI generator for India for the past seven years, they said.
Over the last 25 years, total investment from Singapore into India stood at almost USD 192.538 billion, accounting for nearly 25 per cent of total FDI inflows, according to published data.
Singapore is also among India’s largest trade and investment partners in ASEAN and accounted for 27.83 per cent of India’s overall trade with ASEAN in 2024-25.
This article was generated from an automated news agency feed without modifications to text.
