Singapore and India set up business group

Singapore and India set up business group

SINGAPORE (AFP): Singapore and India have set up a high-level private sector steering committee to further strengthen business link between the two countries, a government statement said.

The statement released late Sunday said government backbencher Davinder Singh would head the India Business Interaction Group Steering Committee, whose members include captains of the industries.

The informal India Business Interaction Group was set up last year.

The steering committee's primary tasks are to act as a feedback and advisory body to the Singapore government on matters relating to trade and investment with India and to bring into clearer focus the activities of the business group.

It would also represent the Singapore private sector at meetings and dialogues with visiting high level political and business delegations.

Singapore Prime Minister Goh Chok Tong visited India in January, giving business links a boost at a time when India is liberalizing its economy and Singapore is encouraging its businessmen to spread their wings overseas to create an external economy.