Indian Economy News

India, Singapore want economic partnership deal fast-tracked

New Delhi: India and Singapore have asked their negotiators working on the Comprehensive Economic Partnership Agreement (CEPA) to show adequate flexibility to move ahead and have the review completed at the earliest.

This was agreed to at a meeting that the Singapore’s visiting Foreign and Law MinisterK Shanmugam, had with External Affairs Minister Sushma Swaraj here on Tuesday.

“The focus of the discussion was largely economic. Singapore is the source of the largest foreign direct investment into India,” the spokesman of the Ministry of External Affairs said.

Infra projects

The two leaders also had “prolonged and detailed” discussions on the possibility of Singaporean companies participating in infrastructure projects based in the Delhi-Mumbai industrial corridor, the Chennai-Mumbai corridor, in the North East and on the Buddhist circuit.

“The focus was principally on Singapore investments in urban development projects and efficient delivery of urban services,” the spokesman said.

India and Singapore will also exchange state visits as part of the year long 50th anniversary celebrations of establishment of diplomatic relations between them.

Iraq situation

Meanwhile, the Government has purchased tickets for 233 Indians wanting to fly out of Iraq, the spokesman said.

“The most significant numbers are from North India because their tickets are booked for Delhi. After that the largest number is to Hyderabad.

There are a limited number to Kerala and Tamil Nadu but these are in single digits,” the spokesman added.

While about a 1,000 Indians have confirmed to the mobile teams established by the Indian Embassy in Baghdad that they would like to return an almost equal number have indicated that they will remain there, the spokesman said adding that not all Indians have been contacted.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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