Smart cities, smart businesses
As one of the fastest growing economies and the second most populous country in the world, India is a market brimming with potential. Its steady rise shows no sign of abating: GDP growth has averaged nearly 7% per year from 1997 to 2016, with the World Bank predicting annual growth of 7% or more through 2020. Under Prime Minister Modi's investor-friendly and open policy regime, you will find many significant investment opportunities in India.
Developing smart cities
PM Modi’s Smart Cities Mission presents a chance for firms in the energy, building, and logistics sectors to enter India’s market. Launched in June 2015, it aims to modernise and improve the quality of life in India’s urban centres. Under this five-year plan, US$15 billion has been allocated to develop 100 “smart cities” across the country, with features such as modern infrastructure and utilities, affordable housing, IT connectivity and environmental sustainability. The wide range of features means a variety of opportunities.
What advice does our centre director in Chennai, Timothy Sun, have for Singapore companies looking to get involved? Read more
Where is there room for Singapore companies in the India Smart Cities Mission? Read more
See what each smart city envisions for itself. Read more
Find out how you can leverage Singapore’s capabilities as Asia’s infrastructure hub to tap Smart Cities opportunities.
Growing middle class
The growth of India’s middle class is an undeniable trend, and firms should be poised to tap rising consumer demand from the country’s increasingly affluent and digitally-savvy population. With e-commerce revenues expected to reach over US$100 billion by 2020, there are many opportunities in the logistics, mobile, Internet and payment technology sectors. For their part, consumer brands can easily access online retail channels and swiftly build up a presence online.
Says PM Modi: "No one place on earth can offer a customer base on such a massive scale". Read more
Venture to India
PM Modi has been undertaking major reforms since coming to power in 2014. His well-known “Make in India” policy focuses on higher value-added production, with the aim of turning India into a global manufacturing hub. Other policies have made it easier to do business in India, including a harmonised GST regime for a unified market, cutting of red tape, and easier access to credit. In 2017, India leapfrogged up the World Bank’s Ease of Doing Business Ranking to the 100th position, from 130th in 2016.
See what Singapore’s Minister for Trade & Industry, S. Iswaran, has to say: “[India’s] factories will need reliable and efficient logistics and utilities – two sectors in which Singapore companies are already active.” Read more
Doing Business in India by Tan Soon Kim, IE Singapore
Many companies remain daunted by the thought of expanding into India. IE Singapore’s Assistant CEO, Tan Soon Kim, lays out observations, challenges, and advice for Singapore companies looking to expand into India.
Doing Business in India by Ajay Kanawal, Business Times
Ajay Kanwal of the Business Times weighs in on why it’s high time for Singapore companies to look at the Indian market.
Find out why Singapore and India are natural partners, and how we can lend you a helping hand if you’re looking to expand into India.