In 2018, India’s Prime Minister Narendra Modi attended an India-Singapore Enterprise event which was organized by Enterprise Singapore which were promoting the establishment of companies in Singapore.
The main topic was believed to be on why Singapore is a Regional Hub for Indian Businesses.
The interaction with the owners of Indian businesses assumes significance as an estimated 8,000 Indian companies have registered in Singapore since 2000.
Large business groups in India set up holding companies in Singapore to manage their Asian and international investments; the country is an international financial center and provides easier financing and refinancing schemes.
It is stated that Singapore contributed 17 percent to India’s Foreign Diver Investment. Major sectors in India that receive FDI inflow from Singapore are: financial services, telecommunications, drugs and pharmaceuticals, computer software and hardware, and trading.