Newindpress
Bangalore, Apr 11: The city is an outstanding place for talent and entrepreneurship said Tharman Shanmugaratnam Minister for Education, Singapore, during his interaction with the captains of the Indian Industry organised by the Confederation of Indian Industry (CII) in Bangalore.
Shanmugaratnam, who is also the life trustee of Singapore India Development Foundation is leading a high level business delegation to the hi-technology cores of Hyderabad, Bangalore and Mysore.
Shanmugaratnam said a lot of similarities existed between Singapore and Bangalore and added that both can chart a long-term relationship and are better positioned to play a dominating role in the Global market place.
He complemented Bangalore for having an outstanding pool of talent and an enabling environment which nurtures entrepreneurship.
Outlining the success story of Singapore, Shanmugaratnam observed that the image of Singapore as a trusted investment destination with protection of intellectual property rights with a good business environment and people made it possible for the state country to attract Foreign Direct Investment.
Putting forth the view that in the new knowledge based economy cities like Bangalore are leading the way in attracting FDI’s solely due to the availability of local talents and the efficiency and expertise in implementing projects.
He also complemented CII for its role in building up the business relations between India and Singapore and added that CII’s relationship with Singapore was not only an institutional one but a relationship of personal involvement.
In his opening remarks, Ashook Soota, past president CII and chairman and managing director, Mindtree Consulting private Ltd, complemented Singapore for being a role model economy in terms of efficiency, transparency and integrity and added that the Singaporean economy have registered a GDP growth rate of 7.2% , this being one of the highest in the comity of developed countries.
Rajaram, Chairman, Singapore Indian Chambers of Commerce and Industry (SICCI) aid that around 2800 companies from India have set up shops in Singapore and now Singapore is considered as the meeting point and gateway to China and other Asian countries.