A recent press report said that Standard Chartered Bank has partnered with the Economic Development Board of Singapore to help its Indian clients expand in Asia by leveraging Singapore as a hub.
Mr. Sumit Aggarwal, Head, Transaction Banking, Singapore, Standard Chartered Bank said that the bank has a good reputation in both Singapore and India and so there is a natural advantage to provide companies with strategic advice and the financial solutions to leverage opportunities in both countries.
Reports said that the number of Indian companies in Singapore has grown to over 4,000, constituting the largest foreign business community in Singapore, in the past nine years. Singapore is the top destination for Indian overseas investments with growth across various sectors including manufacturing, logistics, education and information technology.
Mr. Lee Eng Keat, International Director, Asia Pacific, Singapore Economic Development Board said that they were happy to tie up with Standard Chartered Bank in reaching out to Indian companies looking to expand their businesses internationally. He said that Singapore will offer such Indian companies a unique offering as a springboard for them to internationalize.
He also said that the bank’s in India will in widening their network and engage Indian enterprises on a deeper level.