Invest North 2018 : Singapore Companies to Invest in Punjab

Various leading Singapore companies have shown interest in making investments worth crores of rupees in infrastructure, gas, smart cities and other development projects in Punjab.

Facts :

• Two Singapore companies Ascendas Singbridg and Changi are keen to develop an airport and a world-class city in Ludhiana district.
• Besides, several other firms there showed interest in making investments worth crores of rupees in infrastructure, gas, smart cities and other development projects of Punjab.
• The Summit was held by the Indian High Commission in Singapore in collaboration with the Confederation of Indian Industry (CII).
• The companies conveyed this to the Punjab delegation during the CII North’s first out-of-country event.
• Punjab delegation, led by Finance Minister Manpreet Badal, along with PWD and IT Minister Vijay Inder Singla and Invest Punjab team had a series of B2G meetings with various companies during the CII Invest North 2018 event.
• Besides Ludhiana, Ascendas Singbridg and Changi will develop a world-class city — Aerotropolis — in Mohali district, too, and convention centres across the state.
• Buoyed by the investment climate and opportunities under the Captain Amarinder Singh government in Punjab, JMT group has announced an investment of about Rs 100 crore in real estate and infrastructure sectors and Linde AG, a world leader in industrial gases, will invest Rs 200 crore in a plant in Mandi Gobindgarh.
• The delegation also met FINTECH and other financial companies, which have shown interest in smart cities and small and medium enterprises (SMEs) digitization.
• Punjab Govt. have sanctioned 5,435-acre land through pooling scheme for the new township ‘Aerotropolis’ for which conceptual plan is being made. Expected to cost 2.6 billion dollars, a detailed project report is underway for the Mohali Aerotropolis.

7th Edition of CII Invest North 2018 :

• Confederation of Indian Industry (CII) organizes it’s flagship event Invest North every year with an objective to attract and tap the interest of the global investors community towards scope and potential of investment in the Northern Region.
• While over the years Invest North has always been organized within the country, this year CII held the 7th edition of Invest North in Singapore.One of the key objectives of the Invest North 2018 is to promote Northern Region States as the preferred investment destination and also engage with the overseas investment communities.
• To enable India and the Northern States of India to capitalise on the growth opportunities and position itself on the forefront of global economic growth, the Confederation of Indian Industry (CII) organises its annual flagship initiative, ‘Invest North’.
• With six previous successful editions, Invest North- a Mega Conclave, has been a pioneer in showcasing the potential projects and sectors for investments in the Northern States. The past editions were organised in partnership with Department of Industrial Policy & Promotion (DIPP), Government of India as Partner Ministry.
• With this background, CII organized the 7th edition of Invest North in Singapore •
• Partnership with DIPP is also being explored.

International edition of Invest North – Singapore :

• Singapore edition was held on 3 – 4 September 2018
• Focus of this edition was on projecting India as preferred investment destination in general and promoting Northern States in particular amongst investors’ community.
• B2G, B2B and G2G networking platforms are the integral part
• Sectoral focus – based upon the interests & profile of investors / their expertise.

Why Singapore?

• Singapore is considered as the financial capital of Asia
• Many of global Private Equity / Venture Capitalists / Investment Bankers are based out of Singapore
• India & Singapore share excellent bilateral social and economic relationship
• Singapore is gateway to India-ASEAN economic engagement framework
• The bilateral trade between India and Singapore stands at US $15 billion during 2015-16, $7.7 billion of which was India's export to Singapore
• Singapore is the second largest investor next only to Mauritius with a 18.0% share in FDI inflows to India amounting to US$ 67 billion
• India & Singapore have signed Avoidance of Double Taxation Agreement (DTAA).

Business, Investment & Collaboration opportunity :

• Given Singapore’s small domestic market, high degree of openness to trade and FDI, high savings rate, presence of global fund houses, greater trade linkages with countries like India offering opportunities for investment and trade, can boost Singapore’s economy further.
• With its young educated English speaking and professionally qualified population India can meet Singapore’s demands for professionals, at
  competitive rates.
• The Indian middle class also provides an appealing retail market to the Singaporean companies and remains their preferred destination.
• Singapore features at number 2 in ease of doing business ranking, highest quality of life ranking in Asia for expatriates, most competitive economy and most efficient bureaucracy. Singapore with its investment friendly climate is an attractive destination for Indian businesses.
• On the other hand, Singapore has established its position as financial and trading hub of Asia. The leading sectors of the country include retail, tourism & hospitality, heathcare, biotechnology, machinery & equipment’s, electronics & telecommunications, pharmaceuticals and refined petroleum products.
• Interestingly, the Northern States of India are also hub of these sectors.
• Therefore, there exists lot of opportunity for business collaboration between Indian and Singaporean companies. This will further cement the economic bonding between the two nations.

Key Objectives of Invest North :

Why Invest in North Indian States :

Northern Region - Key Sectors :

By: Harman Sandhu