Singapore Business Leaders Announce Major Investments in India Post PM Modi’s Visit
Introduction
Prime Minister Narendra Modi’s recent visit to Singapore has catalyzed significant investment announcements from top Singaporean business leaders. Following their meeting with PM Modi, several CEOs revealed plans to increase their investments in India, acknowledging the country's reforms aimed at fostering innovation and attracting foreign capital.
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CapitaLand to Double Funds in India
CapitaLand Investment’s Group CEO, Lee Chee Koon, highlighted the company’s accelerated growth in India. “Our growth in India has tripled in the last seven years due to the stable government and pro-business reforms,” he noted. CapitaLand now aims to more than double its funds under management in India over the next few years.
Digital Infrastructure: ₹26,000 Crore Investment
Bruno Lopez, CEO of ST Telemedia Global Data, announced plans to invest over ₹26,000 crore in India’s digital infrastructure over the next five years. Lopez praised India’s digital transformation, calling it “an example for many nations to follow.”
Renewable Energy: Sembcorp’s Strategic Focus
Kim Yin Wong, CEO of Sembcorp Industries Ltd, lauded India’s renewable energy policies, particularly in solar power. He expressed strong interest in collaborating with Indian firms like NTPC and NHPC, positioning Sembcorp for expansion in India’s renewable sector.
Blackstone’s India Success
Gautam Banerjee, Chairman of Blackstone Singapore, reflected on the company’s success in India. “The last 10 years have offered more opportunities than ever before, thanks to PM Modi’s leadership,” Banerjee remarked, signaling continued investment in India’s growth story.
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Strengthening Indo-Singaporean Ties
The meeting also saw the signing of four MoUs in areas like semiconductors, digital tech, and healthcare. PM Modi announced the opening of an Invest India office in Singapore to facilitate further collaboration.
Conclusion
The recent high-level engagements mark a new chapter in Indo-Singaporean relations, with both nations poised for deeper economic cooperation, benefiting sectors like infrastructure, energy, and technology.