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Why 5,000 Indian firms have invested in
Singapore
Straits Times Index
3191.08
0.77%
+24.34
What has attracted the presence of 5,000 Indian companies in
Singapore? Is it tax breaks? Geographical proximity, frequent flights,
easy/cheaper availability of finance?
The signing of the India-Singapore Comprehensive Economic
Cooperation Agreement (CECA) in 2005 helped both countries
strengthen their trade links. Given Singapore’s location and the
growing Asia-Pacific market, Indian companies can use Singapore
as a springboard to tap on growth opportunities in this region.
Global multinational companies, including Asian enterprises, find
Singapore an attractive location. Singapore has vital supporting
infrastructure, a highly skilled workforce, conducive business
environment and stable taxation policies. The Indian business
community is the largest foreign business community in Singapore.
Singapore Dollar
Indian Rupee
1.0000 SGD
Singapore Dollar
(SGD)
1 SGD = 50.5907 INR
50.5907 INR
=
Indian Rupee (INR)
1 INR = 0.01977
SGD
India falls behind in Doing Business list;
Singapore still on top
Doing business in India seems to have become more difficult in the
past one year as India slipped to the 134th spot in a global ranking
of 189 countries by the World Bank. In 2013, India was at 134
position on the list.
The ranking, which is based on 10 indicators, revealed that India's
performance had dropped on all but two parameters. Over the last
one year, starting a business, protecting investors, getting credit,
construction permits and electricity, filing for bankruptcy, paying
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2. taxes as well as registering a property have become tougher in the
country.
Significantly, on another parameter of enforcing contracts, India's
position remained unchanged at 186 and continued to be amongst
the worst performers globally.
Granules India to shut down Singapore
subsidiary
Reports 52% increase in its consolidated net revenue to Rs 266 crores in Q2
2013-14
Granules India Ltd, a manufacturer of finished dosages,
pharmaceutical formulation intermediates and active pharmaceutical
ingredients (APIs), has announced plans to close its subsidiary in
Singapore. In a filing to BSE, Granules India informed that the Board
of Directors of the Company at its meeting held on October 30,
2013, inter alia, has decided to close Granules Singapore Pte Ltd,
wholly owned subsidiary of the company, located at Singapore.
INDIA-SINGAPORE NEWS LETTER
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