Speech by Minister of State Gan Siow Huang at the Official launch of Singapore Business Federation’s Singapore Enterprise Centre (SEC) @ Bengaluru

Honourable Federal Minister of State for Micro, Small and Medium Enterprises & Labour and Employment, Her Excellency Ms Shobha Karandlaje

Honourable Minister for Rural Development and IT & Biotechnology, His Excellency Shri Priyank M Kharge

Chairman of Singapore Business Federation (SBF), Mr SS Teo

Chief Executive Officer of SBF, Mr Kok Ping Soon

Chairman of the newly established SBF India Business Committee (IBC), Mr Prasoon Mukherjee

Distinguished Guests,

Introduction

1.    Good morning. I am delighted to be here in Bengaluru today for the launch of the Singapore Enterprise Centre, or SEC@Bengaluru. This is my first time in the city, and I am excited to witness firsthand the vibrancy and innovation in India’s IT capital. It is also apt that SBF has chosen Bengaluru as the location for the SEC.  

2.    This marks SBF’s fourth SEC after Jakarta, Ho Chi Minh City and Bangkok. Established under the GlobalConnect@SBF initiative by Enterprise Singapore and SBF, the new centre will play a key role in strengthening our economic ties with India by providing a local base for Singapore small and medium-sized enterprises (SMEs) to enter the India market, explore synergies and create partnerships with local companies.

3.    This is also a significant milestone as India and Singapore celebrate 60 years of diplomatic relations and mark 20 years of the Comprehensive Economic Cooperation Agreement (CECA) this year. The SEC@Bengaluru signifies our intent to do more with India. Today, I would like to share my aspirations for Singapore and Indian businesses to ACE this collaboration.

Advance the Singapore-India growth story together

4.    Singapore and India share a strong and growing partnership. The India-Singapore Ministerial Roundtable (ISMR), which is an annual dialogue between has provided a platform for both countries to explore cooperation in new and strategic areas of mutual interest such as semiconductor, industrial parks, connectivity in shipping and aviation, and even space. This has fostered greater understanding and synergies between the two countries and help our companies and peoples reap greater benefits.

5.    Thus, I urge Singapore and Indian companies to take advantage of these foundations to do more in India and Singapore. Our economies complement each other — India is the world’s 4^th largest economy and one of the fastest growing, with many sectors of growth and young talent. Given the uncertainty elsewhere, Singapore companies should look at opportunities here.

6.    Singapore, despite our size, can bring experience, excellence and efficiency in certain sectors. Our connectivity, ease-of-doing business and trusted governance makes us an ideal gateway to Southeast Asia and other markets especially for Research and Development (R&D), and new business ideas.

Commit to deepening partnership through the SEC

7.    The new SEC is a useful vehicle for companies wanting to do more in India and Singapore. We recognise that companies face many challenges and may lack resources to go abroad. The SEC is a way for the Government to support for Singapore companies as they expand overseas. SEC@Bengaluru will provide Singaporean businesses, particularly SMEs, with a strong presence on-the-ground to navigate and seize opportunities in this vital market. I hope to see more Singapore companies venture into the market.

8.    This initiative is also business-led, with the SBF IBC – under the guidance of its newly appointed Chairman Mr Mukherjee – providing industry leadership to ensure the SEC delivers practical, tangible outcomes for companies on the ground.

Engage more deeply with one another

9.    Finally, what could happen when Indian and Singapore companies come together in SEC? Aside from making contacts and exchanging information, we look forward to companies from both sides forging deeper partnerships, moving beyond trade to co-creating solutions and providing value-added services in areas including innovation, advanced manufacturing, energy, infrastructure and more.

10. By working together, we can go further, create new opportunities, and explore emerging sectors. Together, we can open a new chapter of growth, built on collaboration and mutual success.

Conclusion

11. By advancing, committing, and engaging, we will truly ACE the next chapter of the Singapore-India growth story.

12. I extend my warmest congratulations to Mr SS Teo and the entire SBF team for reaching this landmark milestone. I wish SEC@Bengaluru every success in this new chapter and look forward to its growth and impact. Thank you.