Singapore's Trade and Industry Minister Lim Hng Kiang Tuesday called on local investment groups to use their industrial expertise for participating in the development of special economic zones (SEZs) in India.
Singapore companies have been developing SEZs and industrial parks in China, Vietnam and Indonesia since the 1990s, the experience of which can be contributed to India's SEZ sector, Lim said at a seminar, organised by the Indian High Commission, on opportunities in India's SEZ sector here.
Pointing at India's ambitious plan to develop some 570 SEZs across the country, he added that Singapore has already been a significant player in the sector with the participation of its leading investors and consultants like Ascendas and Jurong groups as well as Changi Airport International.
Ascendas has developed three SEZs and one industrial park while Jurong has been involved in the master planning of several industrial complexes within Indian SEZs and Changi was involved in the Durgapur "Aerotropolis" in West Bengal.
According to Export Promotion Council for SEZs Director General Lalit B Singhal, India's SEZ sector has attracted more than USD 28 billion investments over the past three-and-a-half years in the 105 SEZs that are now operational.
It included some USD 6 billion of FDI, he told reporters at the seminar.
Exports from the SEZs grew to Rs 1,52,092 crore, up by 127 per cent over the same period last year.