Singapore, Monday, 21 December 2009 - New Delhi, the capital of India and an important critical epicentre for international politics, trade, culture and literature, is fertile ground for business investment. To help its members tap into the vast opportunities in this growing cosmopolitan city, the Singapore Business Federation organized a five-day business mission from 14 to 19 December 2009.
The business delegation of 19 representatives from 16 companies was led by Mr. Vikas Gore, Director, DP Architects Pte Ltd. SBF partnered the Confederation of Indian Industry (CII) who organized the Singapore Symposium, as well as the site visits during the business mission.
The Confederation of Indian Industry (CII) is an MOU partner of SBF and CII is India's premier business association, with a direct membership of over 7800 organizations from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 90,000 companies from around 385 national and regional sectoral associations.
The highlight of the mission was the Singapore Symposium held on 16 December, attended by over 170 participants. Its objective was to share Singapore's experience in education, corporate governance and infrastructure development. Minister Mentor Lee Kuan Yew was one of the speakers who shared his thoughts and insights at the Symposium. The others included:
- Philip Yeo, Chairman, Spring Singapore and Special Advisor for Economic Development, Prime Minister's Office, Singapore
- Mr. Lim Chee Onn, Chairman, Singbridge International Singapore Pte Ltd and Senior Advisor, Keppel Corporation, Singapore
- Mr. Satpal Khattar, Co-Chairman Singapore India Partnership Foundation and Chairman, Khattar Holdings Private Limited
- Professor Kishore Mahbubani, Dean, Lee Kuan Yew School of Public Policy
- Ambassador Gopinath Pillai, Chairman, Institute of South Asian Studies
- Mr Anand Sharma, Minister of Commerce and Industry Government of India
- Mr. Ratan Tata, Chairman, Tata Sons
- Mr Sunil Bharti Mittal, Past President, Confederation of Indian Industry and Chairman and Group CEO, Bharti Enterprises Limited
- Mr Atul Punj, Member CII National Council and Chairman, Punj Lloyd Ltd, India
SBF also jointly organised a seminar and networking luncheon with another MOU partner, the Federation of the Indian Chamber of Commerce and Industry (FICCI), on 15 December 2009. The event saw at least 90 participants from New Delhi present.
SBF business mission leader Mr. Gore highlighted in his special address that ethnic Tamils form a large proportion of ethnic Indian Singaporeans in multi-racial Singapore. Tamil is also one of the four official languages in Singapore.
He said, "We share this historical connection and the fact that we were both former British colonies make it easier for us to do business." He also mentioned that the CECA (Comprehensive Economic Cooperation Agreement) and recently signed AIFTA(ASEAN-India Free Trade Agreement) would serve to strengthen and grow Singapore-India bilateral trade.
Elaborating on India's strengths, Mr. Anjay Roy, the Advisor to FICCI, shared about India's highly skilled labour, high proportion of English-speaking population, the continuing liberalization of foreign investment regulations, and business opportunities in key sectors in New Delhi. Mr. Roy also fielded questions raised by the Singapore delegates.
Feedback from Mission Delegates
Some of the best takeaways from the SBF Business Mission were the key contacts made by the Singapore companies in New Delhi.
Besides the useful business contacts made during the mission, participants felt that they now have excellent legal, operational and strategic advice to venture into India. Following the mission, three companies are now in pursuit of business leads that surfaced during the meetings in India.
Several SBF mission participants are in talks with Indian counterparts for possible collaboration as a result of this visit to New Delhi.
Thrust sectors in the state of New Delhi NCR (National Capital Region):
Key industry sectors in New Delhi NCR include information technology, telecommunications, hotels, banking, media and tourism. Delhi's manufacturing base has grown considerably as many consumer goods manufacturing enterprises have established their factories and headquarters in and around Delhi. Delhi's large consumer market, coupled with the easy availability of skilled labour, has been a major factor pushing such manufacturing investments into New Delhi NCR.
Why New Delhi NCR?
- Delhi is the major cultural, political and commercial centre of India.
- Delhi is the eighth largest metropolis in the world by population with more than 12.25 million inhabitants in the territory and with over 15.9 million residents in the National Capital Region area (which also includes Noida, Gurgaon, Greater Noida, Faridabad and Ghaziabad).
- Delhi is the largest commercial center in northern India. In 2007, Delhi had a per capita income of Rs. 66,728 (US$1,450) at current prices, the third highest in India after Chandigarh and Goa.
- Delhi and its four satellite cities of Gurgaon and Faridabad (in Haryana), NOIDA and Ghaziabad, in Uttar Pradesh have a large consumer market, coupled with the easy availability of skilled labour, has attracted foreign investment to the New Delhi National Capital Region.
- Delhi has India's largest and one of the fastest growing retail industries, due to the fast rising middle class of mostly young working adults aged 22 - 25 years old.
- Many ethnic groups and cultures are represented in Delhi, making it a cosmopolitan city. Being the political and economic hub of northern India, the city attracts workers - both blue collar and white collar - from all parts of India, further enhancing its diverse character.
- A diplomatic hub, home to the embassies of 160 countries, Delhi has a large expatriate population as well.
For more information on GBD-SA events, please contact:
Mr. Teo Chi Howe
Senior Executive, South Asia
Singapore Business Federation
Email: markets.sa@sbf.org.sg
Tel: 6827 6855
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