Singapore Indian Chamber of Commerce & Industry (SICCI) has made a proposal to the Gujarat government for setting up a Special Economic Zone (SEZ) for Singapore SMEs and MSMEs to overcome the problem of land scarcity in Singapore and attract skilled manpower of India.
Prasoon Mukherjee, Vice-Chairman of SICCI, recently led a delegation to the Vibrant Gujarat Global Summit organised at Gandhinagar and made a proposal to set up SEZs for Singapore-based Small and Medium Enterprises (SMEs) & Micro, Small and Medium Enterprises (MSMEs). The delegation also met Indian Prime Minister Narendra Modi during the visit.
Prasoon Mukherjee, said, “SMEs & MSMEs in Singapore wants to expand their operations and production capacities, but due to the dearth of land, they are not able to do much. If we are allowed to have a SEZs especially for Singapore’s small & medium entrepreneurs, then not only we can expand but will also create lots of local employment in Gujarat.”
Many SMEs and MSMEs of Singapore have currently set up their new facilities in Malaysia, Indonesia, China and even in Bangladesh.
However, setting up of production facilities in India will be helpful for Singapore SMEs and MSMEs, not only to expand their production capacity to supply global market but also to tap the local Indian market as well.
It is mention worthy that Singapore has 2,18,800 SMEs and 1300 MSMEs. The annual turnover of SMEs and MSMEs combined are SGD541.8billion (USD402.7 billion).
The Gujarat delegates along with Mukherjee met with heads of various government departments and suggested areas of interest for Singapore business community who can partner in trade, investment and industrial relations in Gujarat & India.
Regarding the various areas of business interests, SICCI proposed to expand trade opportunities in areas of logistics, startup, infrastructure hospitality and technology-enabled services for government and the private sector.
SICCI is one of the oldest trade associations in Singapore that serves as an enabler for businesses to identify trade opportunities to expand operations and capabilities locally and globally.