India encourages Singapore to boost ‘Make in India’

The Indian High Commissioner has asked the small and medium enterprises (SMEs) in Singapore to make investment in sectors such as automobiles, pharma, chemicals and textiles to boost manufacturing sector and create more job opportunities in India under the ‘Make in India’ programme, according to a PTI report.

Prime Minister Narendra Modi's ‘Make in India’ initiative is designed to strengthen the manufacturing sectors in the country through 25 sectors, said Indian High Commissioner to Singapore Vijay Thakur Singh.

Speaking at the opening of the ‘Make in India’ Global Business Summit 2015, Singh said, "As Singapore companies internationalise to build scale, access new markets and customers, India can be the new location for manufacturing for Singapore companies," Singh said at the opening of the ‘Make in India’ Global Business Summit 2015.

Singapore companies would find Indian SMEs cooperative and good partners. “In fact time is right for the quantum jump in our economic relationship,” the High Commissioner said.

Elaborating on the strength of the Indian SMEs, Singh pointed out that the sector has generated growth of 10% per annum in recent years.

"This new wave of SMEs would…be creating an ecosystem that would be gear to delivery of right products, right quality, the right solutions and the right service at competitive prices for both in the domestic and international markets," she added.

Emphasising on bilateral relations between Singapore and India, she said Singapore is an important destination for Indian businesses, trade as well as Indian students and tourists.

Referring to the five decades of diplomatic relations between the two countries, Singh said, "The 50 year milestone is an opportunity to celebrate and to build on the already strong base of our relationship to yet a further level."

The summit was organised by the Singapore-based Prospur Events Pte Ltd. It was attended by about 200 businessmen with India represented by a delegation led by the National Small Industries Corporation Ltd, headed by chairman and managing director Ravindra Nath.
(Image: Reuters)