proglobalcorp@gmail.com

INDIA-SINGAPORE NEWS
LETTER

+919971504105-Special Business
Singapore Desk In India
www.proglobal...
taxes as well as registering a property have become tougher in the
country.
Significantly, on another parameter of enforci...
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Singapore india business desk proglobal corp

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Singapore india business desk proglobal corp

  1. 1. proglobalcorp@gmail.com INDIA-SINGAPORE NEWS LETTER +919971504105-Special Business Singapore Desk In India www.proglobalcorp.wordpress.com NEWS: MARKET UPDATES Why 5,000 Indian firms have invested in Singapore Straits Times Index 3191.08 0.77% +24.34 What has attracted the presence of 5,000 Indian companies in Singapore? Is it tax breaks? Geographical proximity, frequent flights, easy/cheaper availability of finance? The signing of the India-Singapore Comprehensive Economic Cooperation Agreement (CECA) in 2005 helped both countries strengthen their trade links. Given Singapore’s location and the growing Asia-Pacific market, Indian companies can use Singapore as a springboard to tap on growth opportunities in this region. Global multinational companies, including Asian enterprises, find Singapore an attractive location. Singapore has vital supporting infrastructure, a highly skilled workforce, conducive business environment and stable taxation policies. The Indian business community is the largest foreign business community in Singapore. Singapore Dollar Indian Rupee 1.0000 SGD Singapore Dollar (SGD) 1 SGD = 50.5907 INR 50.5907 INR = Indian Rupee (INR) 1 INR = 0.01977 SGD India falls behind in Doing Business list; Singapore still on top Doing business in India seems to have become more difficult in the past one year as India slipped to the 134th spot in a global ranking of 189 countries by the World Bank. In 2013, India was at 134 position on the list. The ranking, which is based on 10 indicators, revealed that India's performance had dropped on all but two parameters. Over the last one year, starting a business, protecting investors, getting credit, construction permits and electricity, filing for bankruptcy, paying INDIA-SINGAPORE NEWS LETTER 1
  2. 2. taxes as well as registering a property have become tougher in the country. Significantly, on another parameter of enforcing contracts, India's position remained unchanged at 186 and continued to be amongst the worst performers globally. Granules India to shut down Singapore subsidiary Reports 52% increase in its consolidated net revenue to Rs 266 crores in Q2 2013-14 Granules India Ltd, a manufacturer of finished dosages, pharmaceutical formulation intermediates and active pharmaceutical ingredients (APIs), has announced plans to close its subsidiary in Singapore. In a filing to BSE, Granules India informed that the Board of Directors of the Company at its meeting held on October 30, 2013, inter alia, has decided to close Granules Singapore Pte Ltd, wholly owned subsidiary of the company, located at Singapore. INDIA-SINGAPORE NEWS LETTER 2

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