India-Singapore trade to touch $10 B

India-Singapore trade to touch $10 B

By agencies   |   Thursday, 30 June 2005, 07:00 Hrs
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NEW DELHI: India-Singapore bilateral trade is estimated to touch $10 billion by the end of this fiscal and $50 billion by 2010 following the signing of the Comprehensive Economic Cooperation Agreement (CECA), industry body Assocham has said in a release.

The CECA would also significantly increase Singapore's investments into the country.

Two-way trade between the countries stood at $6.4 billion with India having a trade surplus of $1.2 billion in 2004-05.

Investments from the ASEAN member nations are expected to go up to $5 billion by 2010 and further to $10 billion by 2015.

The most important areas of Singapore's investment in India would be airports, ports and urban infrastructure. There was also a vast potential for cooperative ventures in biotech, healthcare, food processing, animation, entertainment and tourism, it added.

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