Seeking to garner investments for its power sector and infrastructure building, India on Monday apprised Singaporean investors of accelerated reforms and new initiatives of the Government.
“I do feel that the mood is very favourable for India. They (investors) can see the India story structurally improving. They can see the demand that India provide and to my mind India can look forward to good investments coming from Singapore,” said the Coal, Power and Renewable Energy Minister Piyush Goyal.
Goyal updated investors, including the Government Investment Corp and state owned Temasek, of a wide ranging investment opportunities in India and the government drive towards swift economic development.
“We had a good sessions with investors during the morning,” said Goyal who addressed Deutsche Bank annual economic conference earlier on Monday.
He also accepted Singapore’s invitation to India to raise more funds from the island city's vibrant financial centre. He also called on Singapore deputy Prime Minister Tharman Shanmugaratnam.
later in the afternoon, Goyal visited Singapore's Institute of Technical Education (ITE) and discussed a possible collaboration with ITE in setting up 21 centres across India as part of the Government’s ‘Skill Development’ initiative. Goyal wrapped up the day by addressing some 250 investors on Indian economy and power sector investments. Goyal was on a one-day visit to Singapore, leading a high- power delegation from the Federation of Indian Chamber of Commerce and Industry (FICCI).
“India needs a massive $1 trillion investment for the development of infrastructure over the next five years,” said Jyotsna Suri, the immediate past president of FICCI.
“We are looking at investments across all sectors of the economy,” said Harashavardhan Neotia, FICCI president, who along with Goyal had met with investors at the Deutsche Bank conference.