PM Lee hails rejuvenated India, but says reforms still lie ahead
He urges Indian firms in Singapore to tap shared cultural heritage
Singapore
INDIA still has much to do to ensure its long-term growth, but its new government has rejuvenated confidence and sentiment within the country, Prime Minister Lee Hsien Loong said on Friday. "There is revived optimism in India, following (Indian) Prime Minister (Narendra) Modi's victory in the May elections," he said at the 90th anniversary dinner of the Singapore Indian Chamber of Commerce and Industry (SICCI).
Mr Lee added that India's business and economic indicators are showing promising signs; capital flows into the country have rebounded, stock markets are at an all-time high and consumer sentiment has improved. "The ingredients for growth are already there, with India's large domestic market and a young, expanding workforce, plus the key factor - the decisive mandate which Prime Minister Modi has got and his determination to make fundamental changes to promote growth and investments."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million
BT subscribers can now share 5 premium articles a month with unlimited number of non-subscribers
First Reit reports 3.2% lower Q1 DPU of S$0.006 amid interest rate, forex headwinds
Vietnam holds first gold auction in 11 years to stabilise market
How Hudson Yards went from ghost town to office success story