Singapore Keen On India

BOMBAY — Singapore is keen to invest in software development centers in India. And the government of Singapore has increased its shareholding in Infosys Technologies to 5.48 percent.

Wong Kwok-Pun, high commissioner of Singapore in India, in a meeting with the Confederation of Indian Industry (CII), eastern region and Calcutta Chamber of Commerce noted that his country, which has already invested S$2 billion (US$1.1 billion) in India, is interested in projects related to software parks and infrastructure.

Wong has met West Bengal chief minister Buddhadeb Bhattacharjee and discussed investment possibilities in the state. Although nothing specific emerged during their meeting, Bhatttacharjee sought to impress upon the high commissioner the infrastructure advantage and availability of skilled IT manpower in the state.

Meanwhile, the government of Singapore has increased its shareholding in Infosys Technologies to 5.48 percent in compliance with Securities and Exchange Board of India (SEBI) norms.

The move by the Singapore government comes in the wake of the NASDAQ-listed company’s board approving a proposal to hike the Foreign Insitutional Investors’ (FII) limit to 49 percent from the previous 40 percent.