Singapore-India ties: SICCI foresees stronger relations under new leadership of Lawrence Wong

The Singapore Indian Chamber of Commerce and Industry (SICCI) is optimistic about the future of Singapore-India relations with Lawrence Wong poised to become Singapore’s next Prime Minister on May 15. SICCI Chairman Neil Parekh made the announcement during the chamber's centenary celebrations.

"As Prime Minister Lee Hsien Loong prepares to hand over leadership to his successor, Deputy Prime Minister Lawrence Wong, we are confident that the ties between Singapore and India will continue to flourish,” Parekh stated at the gala dinner marking the chamber’s 100th anniversary. The event was attended by Singapore President Tharman Shanmugaratnam as the guest of honour, along with approximately 700 business and community leaders.

Parekh highlighted Deputy Prime Minister Wong’s significant contributions to strengthening bilateral relations, particularly through his co-chairing of the India-Singapore Ministerial Roundtable. “This has set the stage and the tone for long-term ties between our two countries,” he remarked.

Since its establishment, SICCI has played a crucial role in bolstering economic and business relations between Singapore and India. This includes fine-tuning the Comprehensive Economic Cooperation Agreement (CECA) signed in June 2005. “An important aspect of the work of SICCI is to help Singapore businesses and fellow trade associations and chambers of commerce deepen their ties with India, ever since the ‘India fever’ caught on during the tenure of then Prime Minister Goh Chok Tong,” Parekh elaborated.

Under SICCI’s guidance, there have been numerous business missions to various Indian states, building strong relationships with major Indian business associations such as the Confederation of Indian Industries (CII), the Associated Chambers of Commerce and Industry of India (ASSOCHAM), and the Federation of Indian Chambers of Commerce and Industry (FICCI).

Furthermore, SICCI has been actively involved in organizing investment roadshows in collaboration with the state governments of Tamil Nadu and Gujarat, contributing significantly to their Global Investment Summits. These efforts demonstrate SICCI’s commitment to fostering robust business ties between Singapore and India.