Trade prospects with India stand positive: Singapore cos

Singapore: Singapore's business community has welcomed Prime Minister Narendra Modi's victory in the general elections and said it looks forward to continue building stronger business and trade ties with India.

Prime Minister Modi on Thursday led the BJP to a thumping victory for a second term in office, winning an absolute majority and on course to touch the 300-seat mark in the 543-member Lok Sabha.

Dr T Chandroo, Chairman of the Singapore Indian Chamber of Commerce and Industry (SICCI) said: "It is heartening to see Prime Minister Narendra Modi secure a landslide win from the general election. SICCI looks forward to continue working and building stronger businesses and trade with India".

Chandroo sees more and more small and medium enterprises from Singapore venturing into the Indian market. "This will definitely give us more confidence in undertaking business ventures," he said. He also expects Modi's pro-reform government to improve on "ease of doing business in India" as it has done so in the first five years of his term.

With this great endorsement, India will shine bright globally, with faster and better economic growth locally, said Dr Charles Chow, a Singapore-based business consultant with wide-ranging interests in India. "Indeed, a great celebration for the Indian diaspora as well as friends and fans of India, too!" Chow said of the pro-business reforms government led by Prime Minister Modi.