Singapore top destination for Indian investment: PM Modi

Singapore, Nov. 24 : Asserting that Singapore is one of the top destinations for Indian investment, Prime Minister Narendra Modi on Tuesday said that sufficiently large number of Indian companies are registered in the South Asian country. Speaking at India-Singapore Economic Convention here, Modi said: “Singapore is now one of the top destination for Indian investment. A significantly large number of Indian companies are registered in Singapore. Singapore companies have also a level of familiarity with Indian market, due to the involvement over the past few decades. Our companies are positioned to explore and develop promising engagements.” Prime Minister Modi also said that Singapore is an essential ally of nation’s ‘look and act east’ policy and India is looking forward to work with Singapore in a big way. “I look forward to work with Singapore in a bigger way. Beyond the bilateral scope there are significant opportunities, through cooperation with third countries,” he said. Hard-selling India’s growth story to Singapore business chiefs, Modi said, “India’s economy is the fastest growing economy. We are working hard so that the benefits reach common man. India is now the next frontier of economic revolution. Singapore is involved in the master plan of Amaravati, Andhra Pradesh.” Earlier, Prime Minister Modi met Singapore counterpart Lee Hsein Loong and inked 10 key agreements, including defence, civil aviation, national planning and cyber security, intending to elevate the bilateral agreements between both nations.