While India has been welcoming investments from Singapore, it is also looking at Singapore as a gateway to the whole Asia-Pacific region. According to Singapore Government statistics there are about 2600 Indian Companies registered in Singapore. However, it is estimated that about 350 Indian companies with a substantive business operations , focusing trading, information technology and a few in the manufacturing (Asian Paints, Godrej, Bilcare) have their presence in Singapore. Especially in the last few years, a number of Indian Software companies have set up shop in Singapore, including TCS, Infosys, iFlex, WIPRO, HCL Technologies, NIIT, Satyam and ICICI Infotech etc. are some of the companies, which have set up their operations in Singapore. Tata Steel in August 2004 acquired steel operations of Singapore’s NatSteel businesses in a S$ 486.4 million deal. In June 2006,  Punj Lloyd Pvt Ltd acquired 88% of stake in SembCorpEngineers & Constructors for S$35.2 million.

     Singapore Exchange (SGX) bought 5% stake in the Bombay Stock Exchange (BSE) in March 2007 for S$65.1 million. In 2006, the first Indian stock index-linked Exchange Traded Fund in the world - iShares MSCI India - was listed on the SGX. SGX re-launched the SGX CNX Nifty (India) Index futures on its electronic trading platform, SGX QUEST in October 2005 Since Indian regulations stipulate that only firms listed on domestic exchanges can list offshore, only a few Indian companies such as Meghami, NeraTel, Berger Uttam Galva Steel, Mercator Lines and QAF have listed in SGX. Mercator Lines is the first Indian shipping company to list on SGX in Dec 2007. In June 2007, Singapore developer Ascendas launches a S$ 500 million Ascendas India Development Trust (a-iTrust) Fund lIndian property developers DLF and Embassy Group also propose to launch REITs in Singapore.

     The Indian travel trade is also represented here with a branch office of the Govt. of India Tourist Office and offices of Indian (Air India and Indian Airlines) and Jet Airways. The Taj Hotels Group and Oberoi have local representatives. MMTC, BEL and EEPC have also set up their offices in Singapore.   

     There are nine India-based banks operating in Singapore. Indian Overseas Bank, UCO Bank, Bank of India and Indian Bank have their branches here while SBI, ICICI Bank, Bank of Baroda and Axix Bank run their offshore operations in Singapore. Exim Bank has a representative office here. India International Insurance Pte Ltd, a Singapore registered company of four Indian insurance companies has been operating here since 1987.

     CII has a resident office since 1994. Its CEOs Missions to Singapore every year hold exchanges with Singapore’s leadership, Industries and Trade captains. Besides, FICCI has got a local representative for ASEAN region based in Singapore. A new initiative named CII-India Business Forum (IBF) has been set up in Juen 2007 to create a platform for Indian companies operating in Singapore to discuss issues of mutual concern.  

     The Hindu, India’s English daily has Asia Pacific Correspondent, based in Singapore. Zee Network, Star Plus and Sony Entertainment have up-linking facilities at Singapore and now have expanded to service the Indian community. Sun TV and Vijay TV-Tamil channels, and Asianet Malayalam Channels are also available on cable.  

     There are two schools, namely, Delhi Public School (DPS) and Global Indian International School (GIIS) which offer the Indian system of education in Singapore. Besides there are two Indian Management Institutes, Xavier Labor Relations Institute (XLRI), Singapore and S.P. Jain Centre of Management, Singapore which offer courses in Management.

     The Singapore Indian Chambers of Commerce & Industry (SICCI), Singapore has brought out the First edition of the Business Directory of Indian Companies in Singapore. SICCI has also brought out the India Singapore CECA: Investor’s Guide. Both the directories are available for sale. Contact details as mentioned below :

     The Singapore Indian Chambers of Commerce & Industry
     101 Cecil Street
     # 23 - 01/04, Tong Eng Building
     Singapore 069533
     Tel: (65)6222 2505
     Fax: (65)62231707
     Email: sicci@sicci.com, ed@sicci.com
     Website: http://www.sicci.com