Industrial Sector Updates – Industrial Policy, Ease of Doing Business, etc.

India needs to remove bottlenecks: Singapore PM

  1. Singapore PM: India is not as open for business as investors hope
  2. Why? Land acquisition, over-regulation and legal hassles are among the biggest bottlenecks
  3. For trade to grow, India must make a strategic decision that you want to encourage interdependence and more openness and more trade-based economy
  4. Bilateral trade: India and Singapore have stepped up contacts as a part of the Govt’s ‘Look east, Act east’ policy
  5. However, bilateral trade between India and Singapore has declined year on year, down 11.2% in 2015-2016 to US $15 billion compared to 2014-2015, with Indian exports dropping 21.2% in a year
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