NEW DELHI: It
is important that Singapore and India go beyond economics and strengthen ties
across a broad range of activities, Singapore Prime Minister Lee Hsien Loong
said on Wednesday.
Speaking at a business summit organised by the captains
of industry in New Delhi, Mr Lee said he welcomed new bilateral initiatives
during his visit and talks with Indian leaders.
First, Singaporean and Indian leaders will witness the
signing of an MOU on cooperation in vocational education and skills development.
Next, Singapore's Institute of Technical Education
(ITE) and the Delhi State Government's Department of Training and Technical
Education will establish a World Class Skills Centre in New Delhi.
Mr Lee said the aim was to train up to 15,000 students
in electronics, hospitality, finance and other fields.
He also noted that Singapore offers many opportunities
for Indian companies, being a global economy with an international workforce.
This makes the country a good base for Indian
companies to expand internationally, Mr Lee said.
Singapore is also a safe test-bed for innovative
technologies.
Mr Lee added that Singapore is also an attractive
partner for Indian companies, and one project in which he sees synergy is the
Delhi-Mumbai Industrial Corridor, which aims to create a global manufacturing
and trading hub.
Some Singaporean companies are participating: Jurong
Consultants completed a feasibility study for the Manesar-Bawal Investment
Region in Haryana and Hyflux is co-developing a seawater desalination plant in
the Dahej Special Economic Zone in Gujarat.
But there is one issue, Mr Lee said.
Investors rely on good governance, predictable
regulatory regimes, and a hassle-free, rules-based business environment before
making major long-term commitments.
Mr Lee therefore welcomed the ongoing dialogue between
Singapore's economic agencies and India's Department of Industrial Policy and
Promotion to discuss common challenges faced by Singapore companies in India.
He looked forward to a mutually beneficial outcome
which would improve India's investment climate for all investors, not only
Singapore.
In this regard, the Mr Lee noted that a second review
of the Comprehensive Economic Cooperation Agreement (CECA) was being conducted
to maintain its relevance to businesses.
He said it was taking longer than expected, but hopes
to conclude it quickly with improvements for everyone.
One quick win is better air connectivity between India
and Singapore.
But while passenger movements between Singapore and
India have continued to grow despite the economic downturn, Singapore's
connectivity to India is significantly more limited under the air services
agreement, compared to China.
Mr Lee feels liberalising aviation will promote
exchange of businessmen, talent, ideas and knowledge, which are the
preconditions for growth and prosperity.
- CNA/wm
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