Singapore celebrates India's 61st Independence day

Singapore, Aug 15 (UNI) India's High Commissioner S Jaishankar hoisted the tricolour here this morning to celebrate India's 61st Independence Day.

It was followed by a cultural performace. Students from the Singapore branch of the Delhi Public School sang a series of patriotic songs at the High Commission premises, marking the beginning of a week-long trade and cultural expo being held in Singapore for the first time.

Salaam India, being held from August 15 to August 19, showcases a wide spectrum of industries, including jewellery, textiles, food, property, education, tourism, biotechnology and information technology by some 200 companies.

Joining the Indian community at the opening of the export, Singapore Minister of State for Trade and Industry S Iswaran highlighted that India and Singapore enjoyed the strong economic, cultural and social ties, especially following the 2005-signed landmark India-Singapore Comprehensive Economic Cooperation Agreement (CECA).

In 2006, India moved up to become Singapore's 12th largest trading partner, with bilateral trade valued at about 20 billion Singapore dollar, an increase of 20 per cent over 2005, making India one of the city's fastest growing trade partners, he added.

''Singapore was the fifth largest investor in India in 2006, with total investments amounting to 578 million US dollar, up from 321 million US dollar in 2005,'' said Mr Iswaran.

He also noted the increasing Indian corporate presence in Singapore. Indian companies now form the fourth largest foreign contingent in Singapore with more than 2,500 registered companies spanning diverse industries from IT services and education to logistics and manufacturing, said Mr Iswaran, adding that the Indian corporate presence in Singapore in 2006 was 40 per cent higher than 2005.

Mr Jaishankar will host a reception here tonight to highlight the 60th anniversary of India's independence.

UNI