SINGAPORE: CapitaLand Investment’s Group CEO, Lee Chee Koon, has expressed confidence in India’s growth prospects, citing the country’s stable government, steady reforms and stated that the company aims to more than double its funds in India in the next few years.
PM Modi met with business leaders and CEOs of Singapore on Thursday.
Speaking about CapitaLand’s experience in India, Lee said the company has been present in the country for over 30 years, but its growth accelerated significantly after PM Modi took office.
“CapitaLand has been in India for more than 30 years. In the beginning, our growth was not so fast but ever since PM Modi came to power, he implemented a lot of reforms,” Lee Chee Koon told ANI.
“In the last 7 years, our growth in India has tripled because of huge prospects in India, a stable government, steady reforms and a pro-business attitude. We are confident that we want to be able to more than double our funds under management in India in the next few years,” he added.
Many other Singapore’s top business leaders spoke to ANI and expressed excitement and shared their plans to do more investment in India in the coming future.
After meeting with PM Modi, Bruno Lopez expressed excitement and satisfaction with India’s digitalisation efforts, which have enabled the growth of the digital economy and shared its plan to invest over Rs 26,000 crores in India over the next five years.
Bruno Lopez, Chief Executive Officer of ST Telemedia Global Data, said, “The commitment to digitalisation across India is an example to follow for a lot of places. We have been excited and pleased by this. This way, what we have been able to do is enable the digital economy…We are investing more than Rs 26,000 crores in the next five years.”
Another Singapore’s business leader, CEO at Sembcorp Industries Ltd., Kim Yin Wong, said, “I would argue that power industry in India re-rating in India. PM Modi and his ministries over the last few years implemented important policies that enabled the viability and credibility of the solar electricity corporation of India. Now, we want to bring NTPC and NHPC. As a foreign investor in the renewable sector, this will present tremendous opportunities for us to pursue.”
After business leaders’ meeting, Sean Chiao, Group CEO Surbana Jurong, noted that under PM Modi’s leadership, India has become a major global player and the fifth-largest economy in the world.
“It is very exciting to meet PM Modi in person. His leadership is exceptional. This is his third term. For the past two terms, you can see that India has become one of the major players globally and the fifth-largest economy in the world. I would encourage him to open up the market to consider some of the new policies or improve some existing policies to encourage more collaboration with Singaporean companies and investments,” Surbana Jurong said.
CEO, Singapore Business Federation, Kok Ping Soon, said, “We are very encouraged by PM Modi’s remarks. The fact that he spent so much time listening to business interests and issues brought up by business leaders reflected a very pro-business attitude…Singapore can contribute in skill development, which PM Modi spoke about.”
Another top business leader expressed interest in collaborating with Indian companies NTPC and NHPC, seeing tremendous opportunities for Sembcorp Industries Ltd. as a foreign investor in the renewable sector.
Kim Yin Wong, CEO at Sembcorp Industries Ltd, said, “I would argue that the power industry in India is re-rating in India. PM Modi and his ministries over the last few years implemented important policies that enabled the viability and credibility of the solar electricity corporation of India. Now, we want to bring NTPC and NHPC. As a foreign investor in the renewable sector, this will present tremendous opportunities for us to pursue.”
Blackstone Singapore’s Senior Managing Director and Chairman, Gautam Banerjee, praised PM Modi and stated that his firm, Blackstone, has achieved more in the last 10 years than in the previous decade.
Gautam Banerjee, Senior Managing Director and Chairman of Blackstone Singapore, said, “I am very impressed and encouraged by what PM Modi said to all of us. My firm has been in the last 20 years. What we have done in the last 10 years has been much more than we could achieve earlier. His increased vigour and focus on so many different aspects. Just so many opportunities for us. We will go back very encouraged with opportunities India presents to us.”
PM Modi met with business leaders and CEOs of Singapore on Thursday and highlighted the reforms underway in India that will encourage investment and innovation.
PM Modi also said that he discussed ways to enhance economic relations between the two nations.
Sharing a post on X, PM Modi wrote, “Interacted with top business leaders and CEOs in Singapore. We talked about ways to deepen economic linkages. I highlighted the reforms underway in India, which will encourage investment and innovation.” (ANI)
Also Read:Â PM Modi receives ceremonial welcome at Singapore’s Parliament House
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