Indian business environment complicated : Singapore PM
New Delhi. Amid growing concern about the Indian Economy and Forieng Direct investment in County, Singapore government said that Indian business environment is still complicated and there is a need for hassle-free regulatory mechanism.
On his two day tour to india, Singapore Prime Minister Lee Hsien Loong said, India’s environment is complicated and several issues need to be addressed, as companies from Singapore
“Long gestation and long operating period, say up to 40 years, and lesser risks with a proper regulatory mechanism – if all these can be assured it will be easier for companies to participate in investment in India,” Loong said at a joint India-Singapore business meet.
“India can foster closer links with South East Asia and we encourage Indian companies to integrate in ASEAN partnership projects, for which we are setting up regional comprehensive economic partnership.” He said.
Loong said that Singapore government along with Delhi state government will set up a world-class post-secondary technical education institute in New Delhi. The institute will provide training on finance, hospitality, electronics, etc, to 15,000 students..
On air-connectivity, he said liberalisation is needed in the sector, so that more flights could come up between India and Singapore. The number is much lesser than China. “There is open sky between Singapore and China, whereas in India, there are a lot of regulations and permissions require to be taken,” he said.
Commenting on Time magazine stating Indian Prime Minister as underachiever, CEO, Singapore Business Federation, Ho Meng Kit said India needs to do better promotion abroad to change its image and bring out the reality.
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