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May 11, 2011 12:26 IST
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"We already have large companies from India [ Images ] coming to Singapore and using the island state for regional business. The next step really is how this can cascade down to the larger pool of mid-size companies," he said.
Having met domestic demand, the mid-size Indian companies were looking beyond their borders, especially for opportunities in the Asia-Pacific, he said after launching Tata Communications' international headquarters in Singapore.
"Singapore can be a good springboard for these mid-size companies into the region as the city state has Free Trade Agreements with regional markets," said Iswaran.
Singapore companies also have traditional links with regional businesses.
"As such, the mid-size Indian companies can partner Singapore companies or just use the links to other countries," he said.
Iswaran also underlined the synergy between technology-savvy Indian companies in the pharmaceuticals and IT space and Singapore's emphasis on attracting knowledge-based companies.
"Singapore's emphasis is on knowledge-based activity and the kind of resources we are committing toward such sectors are opportunities for the Indian mid-size companies to come here and collaborate with our research institutes in the universities," he said.
He also stressed on Singapore's continuous efforts to attract knowledge-based companies and to be one of the most preferred options for Indian companies to set up a base of operations.
"We believe we are one of the most attractive options for them, but we need to continue to make that case to these companies," he added.
Iswaran also assured that Singapore would provide a conducive environment with minimum hassle and a barrier-free working place.
There are more than 4,000 Indian enterprises in Singapore.
"Of these, a growing number have leveraged on Singapore as their regional and international headquarters to coordinate their overseas operations," he said.
Bilateral business between Singapore and India expanded to 30 billion Singapore dollars last year, especially following the easing of taxes under the Comprehensive Economic Cooperation Agreement.
Indian commerce and trade observers see the number of Indian companies increasing to 6,000 over the next two to three years.
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Singapore out to beckon Indian talent
Mini Joseph Tejaswi, TNN | May 11, 2011, 07.39am IST
BANGALORE: Singapore has emerged as one of the world's largest hiring markets this year, and this offers opportunities for Indians.
The country expects to hire over 3 lakh mid to senior professionals in 2011. Hiring firms say over 20% of this talent will be from India, 50% from within Singapore and the rest from other parts of the world.
Zubin Shroff, partner in executive search firm Braithwaite Steiner Pretty, said Singaporean firms' requirement for talent had multiplied this year, with all markets in the region growing . "This is creating opportunities for many Indian professionals from across industries."
Singapore is the regional headquarter for many American and European banks, financial institutions, manufacturing giants, oil & gas companies, large IT corporations , mining firms, healthcare and hospitality brands.
These companies are now expanding rapidly in Singapore and across China, Indonesia , Malaysia, Hong Kong, Vietnam and Australia. Hiring firms say some 40% of the 3 lakh recruits will be placed in Singapore while the rest will go into other Asia Pacific regions.
Jayanthi Y, chairman of hiring firm AdAstra Consultants , who is in-charge of talent acquisition for Apac, said, "Singapore today offers a never-before opportunity for Indian talent. Its proximity is an attractive element, while salary is the biggest attraction . Professionals receive 4 to 5 times what they are paid in India."
Jobs are available particularly in banking, hospitality , technology, manufacturing , oil & gas, healthcare, mining and textiles.
Global executives are attracted to Singapore for its high quality of life, congestion-free traffic movement, its safety standards. For Indians , the three-hour flying time and Singapore's assimilation of Indian culture are added attractions. Most companies operate out of economic zones where the maximum personal income tax is 15%.
"My 12-year-old daughter travels 60 kilometres a day between home and her school in an hour. She has to catch a train for half the way and then change to a bus. But it doesn't bother her, nor does it bother my wife, or me. Because , this place is really safe," said Natarajan P, a professional with an MNC oil company who relocated to the country from Bangalore a year ago.
Opportunity calling
Jobs are available particularly in banking, hospitality, technology, manufacturing, oil & gas, healthcare, mining and textiles Singapore is the regional headquarter for many American and European banks, financial institutions, manufacturing giants, oil & gas companies, large IT corporations , mining firms, healthcare and hospitality brands
