Kumaraswamy to visit Singapore from tomorrow

Singapore, Jun 26 (UNI) Karnataka Chief Minister H D Kumaraswamy is on Singapore visit for three days from tomorrow at the invitation of Minister for Trade and Industry Lim Hng Kiang.

''Karnataka, in particular its capital Bangalore, is among the top three destinations in India for Singapore investors, which have invested in the IT-park, residential-township and logistics sectors,'' said the Trade and Industry Ministry in a statement today.

''The visit aims to foster greater business collaboration between Karnataka and Singapore,'' it said.

Mr Kumaraswamy will be visiting Singapore companies during the visit.

His visit comes amidst growing interest among the business communities in Singapore and India for stronger business links following the signing of the bilateral Comprehensive Economic Cooperation Agreement (CECA) in June last year, the ministry said.

Indian statistics show that actualised Foreign Direct Investment inflows from Singapore to India jumped from 62.1 million dollar in 2004 to 321.4 million dollar in 2005. This made Singapore the third largest source of FDI inflows into India for the year 2005. The presence of Indian companies in Singapore has also grown, with over 1,600 companies present in the country.

UNI XC SK PC0819