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Singapore also has a significant Indian diaspora, and it is therefore no surprise many Indian businesses have established bases in Singapore. According to the Indian High Commission in Singapore, about 9,000 Indian companies are registered in Singapore.
Notable Indian firms such as Tata Group<\/a>, Mahindra & Mahindra, Reliance Industries<\/a>, AdGroup, Infosys<\/a> and Wipro<\/a> all have bases in Singapore. India<\/a> and Singapore have enjoyed a robust trade<\/a> relation for many years.
For the fiscal year 2021-22, bilateral trade stood at USD 30.11 billion. Singapore is India's 6th largest trade partner with a share of 2.9 percent of India's overall trade. Whereas India is Singapore's 12th largest trade partner with a share of 2.3 percent in Singapore's overall trade.
India FDI (foreign direct investment) inflows for 2021 to Singapore stood at USD 18.41 billion while FDI equity inflows to India from Singapore reached USD 15.87 billion during FY2021-22. Cumulatively, Singapore is the 2nd largest investor in India with USD 140.99 billion invested in India from April 2000 to September 2022.
The top sectors attracting FDI Equity inflows from Singapore are the services sector, computer software & hardware, trading, telecommunications, and drugs & pharmaceuticals. Another sector that is set to attract more investments from Singapore is manufacturing<\/a>.
India has been attracting more manufacturers to its shores since 2014 when Prime Minister Narendra Modi<\/a> launched the \"Make in India\" campaign to put India prominently on the global manufacturing map and, in turn, facilitate the inflow of new technology and capital, while creating millions of jobs.
To this end, the government has made it easier for foreign companies to operate in the country. Between 2016 to 2019, India vaulted from 130th place to 63rd place out of 190 countries in the World Bank's Ease of Doing Business Index.
India aims to further raise the manufacturing sector's share of gross domestic product<\/a> to 25 per cent by 2025, from 16 per cent now.
Of late, India has been attracting such companies as Apple, Samsung, Kia, Boeing, Siemens<\/a>, and Toshiba to shift a significant amount of their manufacturing activity to India. Some of these re-locations have been prompted by COVID-era supply chain disruptions and geopolitical tensions.
Singapore companies which used to mostly manufacture their products in neighbouring Southeast Asian countries and China appear to be doing the same.
Among Singapore firms that have shifted their operations to India are contract manufacturers who support and supply larger large multinational corporations (MNCs), some of whom have re-located to India.
Enterprise Singapore (EnterpriseSG) has been playing a part in helping Singapore firms establish themselves in India to benefit from the opportunities available to them in India due to policies favourable to manufacturers as well as its general economic outlook.
Enterprise Singapore is a statutory board under the Ministry of Trade and Industry of the Government of Singapore. Its aim is to support the development of Singapore's small and medium enterprises, upgrade capabilities, and help them innovate, transform, and internationalise.
In 2022, the number of Singaporean firms that worked with EnterpriseSG to enter India increased by more than 40 per cent compared to pre-pandemic 2019. Manufacturing was among the top three sectors represented in these companies, alongside information and communications and professional services.
Among the beneficiaries of the influx of MNCs to India is Singapore's The Hub Engineering which has a subsidiary Reliable Hub's Engineering India.
Reliable Hub's Engineering makes and distributes equipment for retail and food services - such as shelves and billing counters and supplies many big brands, including foreign entrants such as Mr DIY, Skechers and Miniso.
Turnover increased almost five-fold from 148 million rupees (USD1.8 million) in 2018 to 723 million rupees (USD8.8 million) in 2022.
Its managing director Ranjit Yadav told Singapore's Business Times that in the past many foreign companies needed a local partner to enter India and there was a cap on foreign ownership. However, today, 100 per cent FDI is allowed for firms in most types of manufacturing.
Though Reliable Hub's Engineering is an end-manufacturer, Ranjit said suppliers can also gain from the expansion of manufacturing MNCs in India.
As part of efforts to keep manufacturing in India, the government imposes high customs duties on imported components. This means manufacturers based in India have an incentive to find local suppliers and thus lower their costs, he said.
EnterpriseSG has been working with Indian agencies, for example, the Confederation of Indian Industry (CII) to help Singapore firms capture opportunities to expand in India. Last October, it partnered CII to bring 19 Indian corporates to Singapore for the Industrial Transformation Asia-Pacific event, where business matching sessions were held.
Tamil Nadu, India's most industrialised state, has been a focal point for Singapore manufacturers and EnterpriseSG. It is home to fast-growing manufacturing clusters with about 39,000 registered factories.
Said G. Jayakrishnan, executive director at EnterpriseSG, \"Given the vibrant manufacturing sector in Tamil Nadu, EnterpriseSG is also actively working with Singapore companies to pursue manufacturing projects in the state.\" (ANI)
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为什么新加坡制造商搬到印度?
印度和新加坡有一个强劲的贸易关系,双边贸易达到301.1亿美元,2021财年- 22所示。这两个国家也有有利的投资关系,与新加坡是印度的第二大投资者,2000年4月以来在印度投资1409.9亿美元。
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新加坡也有一个重要的印度移民,因此毫不奇怪许多印度企业在新加坡建立基地。根据印度高委员会在新加坡,大约9000家印度企业在新加坡注册。
著名的印度公司等塔塔集团Mahindra & Mahindra,信实工业公司AdGroup,印孚瑟斯和Wipro在新加坡都有基地。印度和新加坡享有一个健壮的贸易多年的关系。
2021 - 22日的财政年度双边贸易额达301.1亿美元。新加坡是印度第六大贸易伙伴,印度2.9%的整体贸易的份额。而印度是新加坡的12大贸易伙伴,在新加坡的总体贸易份额的2.3%。
印度FDI(外国直接投资)2021年新加坡站在184.1亿美元,而外商直接投资股本流入印度从新加坡FY2021-22期间达到158.7亿美元。日积月累,新加坡是印度的第二大投资者与投资1409.9亿美元在印度从2000年4月到2022年9月。
顶部行业吸引外国直接投资股本流入从新加坡服务业,计算机软件和硬件、交易、电信、和毒品和药品。另一个部门,将吸引更多的投资来自新加坡制造业。
印度自2014年以来一直吸引更多制造商其海岸当总理莫迪在印度推出了“让”活动将印度在全球制造业地图,进而促进新技术和资本的流入,而创造数以百万计的就业岗位。
为此,政府已经放宽了外国公司在中国的运营。在2016年到2019年之间,印度拱形第130位和第63位的190个国家在世界银行的经商指数。
印度的目标是进一步提高制造业的份额国内生产总值(gdp)到2025年的25%,从目前的16%。
近来,印度一直吸引这些公司像苹果,三星,起亚,波音公司西门子和东芝将大量的印度制造业活动。其中一些re-locations被COVID-era促使供应链中断和地缘政治紧张局势。
新加坡公司主要用于制造他们的产品在邻近的东南亚国家和中国做同样的事。
在新加坡公司业务转移到印度是合同制造商,他们支持和供应大的大型跨国公司(跨国公司),其中一些人重定向到印度。
企业新加坡(EnterpriseSG)已经发挥了作用,帮助新加坡公司在印度建立自己受益的机会提供给他们在印度由于政策有利于制造商以及它的整体经济前景。
企业新加坡是一个法定委员会的贸易和工业部下新加坡政府。其目的是支持新加坡的中小企业的发展,提升能力,并帮助他们创新,转换和国际化。
2022年,新加坡公司的数量与EnterpriseSG进入印度大流行前相比2019年增长了超过40%。制造业在这些公司所代表的三大行业中,信息和通信和专业服务。
在跨国公司的涌入印度的受益者是新加坡的枢纽工程枢纽工程印度子公司可靠。
可靠的枢纽工程使得零售和食品服务和分配设备,如货架和计费计数器和供应许多大品牌,包括外国进入者如DIY先生,斯凯奇和Miniso。
营业额增加了近5倍从2018年的1.48亿卢比(180万美元)到2022年的7.23亿卢比(880万美元)。
其董事总经理Ranjit Yadav告诉新加坡的商业时报》,在过去的许多外国公司需要一个当地合作伙伴进入印度和外国所有权上限。然而,今天,100%的外国直接投资是允许在大多数类型的制造企业。
虽然可靠枢纽工程是一个end-manufacturer, Ranjit说供应商还可以获得在印度制造业跨国公司的扩张。
作为努力的一部分,保持制造业在印度,政府对进口零部件征收高关税。这意味着制造商在印度有动力去找到本地供应商,从而降低他们的成本,他说。
EnterpriseSG一直与印度合作机构,例如,印度工业联合会(CII)帮助新加坡公司抓住机会扩大在印度。去年十月,印度工业联合会合作将19企业到新加坡的亚太地区产业转型事件,业务匹配的会议在哪里举行。
印度泰米尔纳德邦,最发达的国家,一直是新加坡制造商和EnterpriseSG焦点。它是快速发展的制造业集群为约39000注册工厂。
EnterpriseSG执行董事g . Jayakrishnan说,“考虑到充满活力的制造业在泰米尔纳德邦,EnterpriseSG也积极与新加坡公司合作,追求制造项目。”(ANI)
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