Singapore firms keen on Indian market: survey

Singapore companies want to enter India or expand their business in locations like Delhi, Maharashtra, Tamil Nadu and Karnataka.

Increasing numbers of Singapore companies want to enter India or expand their business in the country, a survey said on Friday.

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Preferred locations are Delhi, Maharashtra, Tamil Nadu and Karnataka.

The survey commissioned by International Enterprise Singapore, the city-state's trade body, found 52 per cent of companies without operations in India intend to enter the market. The most interested among those are in the services and commerce sectors.

Overall, 64 per cent of respondents plan to enter India or expand their business. Of those already in India, 82 per cent plan to expand.

The signing of an agreement in July 2005 strengthened business ties between Singapore and India. Following the pact, bilateral trade last year soared past $13 billion.