Singapore keen to invest in India

Singapore on Saturday expressed its desire to act as a catalyst in directing FDI to India and asserted the investment climate in the country remained good.

"Singapore wants to play catalytic a role in directing foreign investment towards India and we can make a difference," Singapore Prime Minister Goh Chok Tong told reporters in New Delhi.

Asked about the investment climate in India after the change in government at the Centre, he said, "There is no change. It is as good as earlier."

Speaking after signing the Letter of Intent for setting up of Singapore-India Partnership Foundation between Confederation of Indian Industry and Institute of South Asian Studies based in the city-state, Goh said it would make bilateral relations more "entrenched" and help bring up a generation more educated about the two countries.

The foundation, started with the seed money of Rs 25 lakh (Rs 2.5 million) given to Goh as part of the Jawaharlal Nehru Award for International Understanding, received instant contribution of the same amount from Bharti Enterprises chief Sunil Mittal, Jamshed Godrej of Godrej and Boyce and CII president Sunil Kant Munjal.

Goh said the Foundation has been set up with a vision to make bilateral ties between India and Singapore stronger by student fellowships and cultural exchange programmes.

"We want not just funds but real partnership in the joint venture with CII in this endeavour. We have also established an Institute of South Asian Studies where we can have people who grow up with a better understanding of the history and culture of the region," the visiting Prime Minister said.