Singapore keen on setting up JVs in textile industry

Wednesday, 10 December 2003, 20:30 IST
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COIMBATORE: With the global textile trade focusing its attention on India and China in the post-quota regime, Singapore is looking at India to set up joint ventures, an official in Singapore Textile and Garment Mission said. "We are looking at partnerships to set up production plants in joint venture in India with substantial investment and also want Indian companies to open shops in Singapore," leader of the mission Edward Ang told reporters late on Tuesday. Since China was successfully attempting to create Hong Kong as its hub for all business activities, the mission wants to position Singapore as a gateway for India to enhance its trade, Ang said. Pointing out that the city was doing a business of over $150 billion, he expressed hope that India, with good connectivity and international access, could capture a substantial percentage of textile market before 2008. The investment pattern and size of the production plants in India could be finalised after receiving concrete proposals from entrepreneurs, Ang said. The mission, on a 13-day visit to India, also held an interactive session with members of Southern India Mills Association (SIMA).
Source: IANS
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