Industry Leader Sees Opportunities For Singapore-India Joint Ventures In West Asia

Singapore: Joint ventures between businesses from India and Singapore are set to gain from potential opportunities in redevelopment in West Asia once the region moves towards stabilisation, a senior industry leader said on Tuesday.

India and Singapore have built a bilateral partnership over the past two decades that strategically complements them in a shifting global economy, said Neil Parekh, Chairman of the Singapore Indian Chamber of Commerce and Industry (SICCI).

"The opportunity ahead lies in moving from trade and investment to co-creation, capability building, and global market leadership," he said, adding, "We expect to see significant opportunities for Singapore–India joint ventures."

He pointed out that Singapore and India are not just bilateral partners, "they are strategic complements in a shifting global economy." Parekh elaborated on Singapore's project structuring expertise and capital and governance frameworks while highlighting India's scale, manpower and execution capabilities.

"Together, this creates a compelling model for participation in large-scale infrastructure, logistics, urban development, and energy projects in the Middle East," he told PTI.

The industry veteran anticipates more tripartite collaborations between Singapore, India, and Middle Eastern partners — particularly in rebuilding and future-proofing economies in the region.

Responding to a question on India's place in Singapore's 'go and invest abroad' initiatives, Parekh said, "India is increasingly positioned not just as a destination market, but as a strategic growth partner for Singapore companies."

"We are seeing strong alignment in sectors such as infrastructure, digital economy, advanced manufacturing, and sustainability," he said.

Based on the work progressing in various phases between the two countries, Parekh sees greater institutional collaboration, more structured bilateral investment platforms, and increased co-creation in emerging sectors like AI, green energy, and logistics.

"India's scale, combined with Singapore's capital and governance strengths, creates a highly complementary partnership," he underlined.

As an industry body with 600 members, he said, SICCI is playing a role in enabling Singapore–India and India–ASEAN market access.

"At the century-old chamber that has been focused on working with Indian businesses, we see ourselves as a bridge institution."

"We are actively strengthening corridors between Singapore, India, Southeast Asia, and emerging markets, positioning Singapore as a springboard for Indian companies into the Far East, and India as a scale market for Singapore enterprises," said Parekh, who has worked across markets for nearly four decades.

Furthermore, India is a source for Singapore's workforce needs. India has long been a key contributor to Singapore's growth story across both high-skilled and labour-intensive sectors.

Going forward, the opportunity lies in deepening this talent partnership, according to Parekh. This involves leveraging India's large pool of skilled professionals and aligning workforce development with emerging sectors such as AI, fintech, and advanced manufacturing.

He also wants to ensure that talent mobility remains structured, fair, and mutually beneficial. The focus should not just be on labour supply, but on capability exchange and long-term talent development.

He sees strong potential for collaboration between premier Indian institutions such as the Indian Institutes of Technology and Indian Institutes of Management with Singapore's universities and institutes.

"Singapore can serve as a global platform for such institutions to engage with international industry and academia," Parekh said.

He further highlighted the role of Singapore institutions in India. "Singapore's education and training institutions, including the Institute of Technical Education, have already made meaningful contributions in India."

The next phase could include scaling technical and vocational training models, co-developing industry-relevant curricula, and supporting workforce transformation in emerging sectors, added Parekh.

"This aligns well with India's skilling agenda and Singapore's strengths in applied education." Parekh expects to see increased collaboration in AI deployment across sectors, joint innovation platforms and sandboxes, and talent exchange in high-end computing, including quantum technologies. "This is a space where both countries can co-create solutions for global markets."