Strengthening Ties: Singapore and India's Strategic Business Alliance

The partnership between Singapore Indian Chamber of Commerce and Industry and the Institute of Chartered Accountants of India aims to enhance bilateral ties and facilitate investment flows. This collaboration underlines Singapore's role as a hub for Indian businesses and emphasizes existing trade agreements as vital for economic integration.

The Singapore Indian Chamber of Commerce and Industry (SICCI) has teamed up with the Institute of Chartered Accountants of India (ICAI) to bolster ties between Singapore and India, an initiative set to drive investment flows, an official announced.

SICCI Chairman Neil Parekh, who also serves in Singapore's parliament, revealed this partnership at ICAI’s Business Leaders Forum 2024. Given ICAI’s vast membership base, the collaboration is expected to revolutionize industry interactions, he stated, adding that Singapore serves as a significant global hub for Indian companies seeking expansion.

Highlighting Singapore's advantageous business environment shaped by frameworks like SICA and DTA, Parekh noted Singapore's allure for foreign investors targeting Indian markets. Key agreements such as CECA and AIFTA have been pivotal in strengthening economic relationships, complemented by Indian government initiatives fostering foreign investment.

(With inputs from agencies.)