Economic Cooperation between Singapore and India

Economic Cooperation between Singapore and India Synopsis

Asian interregional economic cooperation has assumed greater prominence with the rise of Asia’s two giant economies of China and India. The economic liberalization of China’s economy in 1979, followed by India in 1991, signalled the presence of business opportunities to foreign investors - including those from Asia. This book examines the growing economic relations between India and Singapore which has culminated in a Free Trade Agreement (FTA), the Comprehensive Economic Cooperation Agreement (CECA), signed by both economies in June 2005. Using the information technology sector as the main case study of the ‘alliance’ between Singapore and India, the book examines the challenges that both have overcome to expand their bilateral trade. In the process, Singapore has become one of the top five foreign investors in India. The CECA is important as it is the first free trade agreement that Singapore signed with a developing country; and furthermore it provided a blueprint for India to conclude similar FTAs with other ASEAN members. This book provides a competitive analysis for intra-regional foreign direct investment. Faizal Yahya demonstrates that the economic relationship between Singapore and India illuminates how both economies are attempting to meet future challenges. It will be of interest to scholars of international business studies, cross-cultural management, international trade, international relations, information management and South and Southeast Asian Studies.