India Beckons Singapore Investors: Goyal

Singapore, Oct 4 (PTI) Commerce and Industry Minister Piyush Goyal has urged Singapore-based investors to look at the opportunities that India offers across the spectrum of economic development.

"I would urge each one of you to look at the scale of opportunity that India offers," Goyal said at a meeting with investors under the theme "India Singapore @ 60: Partnership for Growth" on Saturday.

Emphasising the basis for the rapid economic development, the minister highlighted India's "three singular definitions" -- the size of its market, opportunities, and the skill of its workforce.

"We are looking at working together, fast-tracking various initiatives that the India Singapore Business Roundtable initiated," he said, pointing out that officials from both public and private sectors are putting in relentless hours to try and create those models which will help the two countries' relationship to grow on a faster track.

"I think, together, there are many new frontiers to scale," said Goyal, who is visiting Singapore.

"Whether it's in the world of capital, whether it's in the world of research and development, whether it's in the world of people development, skills, skill sets, talent, the world of education, our effort to look at sustainability going forward, something which both Singapore and India, people of both countries, the leaders of both countries recognize for the future," he noted.

All these efforts put together define the Singapore-India relationship, he said.

Stressing that all chambers of commerce and industry in India came together with Singaporean chambers, along with European, American and Japanese companies, on one platform here on Friday to explore opportunities in India, the minister told a gathering of about 250 investors, "I think the time is now, the time is right".

"If we lose this opportunity, if we fail to capture the momentum that this relationship has gained, we will really miss out on a very defining moment, which can take the Singapore-India partnership to newer levels."

"We need your support," Goyal told a gathering of about 250 investors. "We need to work with all of you...and well-wishers from the world of business."

Goyal exuded confidence that the India-Singapore partnership, driven by the collective abilities of both governments and investors, and resting on the strong bilateral leadership, will enter a "fast track mode", transforming the relationship between the Asian financial hub and the Indian market.

"We value and trust your friendship, and I can assure you the delta of opportunity that India offers will truly provide your businesses and your technologies a very large market," the minister said.

"We will not fail to catch this huge opportunity that this partnership provides," he assured potential investors and current stakeholders of the prospects and shared goal for the progress of Singapore and India.