Singapore

Indian tourists are emerging as a powerful force in Singapore’s luxury retail market, driving a notable rise in high-end goods consumption. Strong outbound travel from India, supported by rising disposable incomes and a growing appetite for premium brands, has positioned Indian shoppers among the top spenders in the city-state. Luxury retailers report increased sales of watches, jewelry, fashion, and accessories, as travelers seek both exclusivity and price advantages.

Singapore’s Businesses Target India’s Expanding Renewable Energy Market

Singapore-based companies are increasingly turning their attention toward India’s booming renewable energy sector, lured by policy stability, strong growth potential, and ambitious national decarbonization targets. As India strives to achieve 500 gigawatts (GW) of non-fossil fuel capacity by 2030, Singaporean investors—from sovereign funds to clean-tech startups—are scaling up participation across solar, wind, storage, and green hydrogen projects.

Nuvama Asset Management, in partnership with Cushman & Wakefield, has acquired the One Paramount office campus in Porur, Chennai, from Singapore-based Keppel Group for ₹2,550 crore. Spanning 2.4 million square feet, the LEED Platinum-certified campus is fully leased to a mix of Global Capability Centres (GCCs) and Indian technology companies. This acquisition, marking the fund’s second purchase, reflects a strategic focus on high-quality, sustainable office spaces in India’s prime micro-markets.

Strides Pharma Science Limited has entered into a strategic partnership with Kenox Pharmaceuticals to jointly develop and commercialize a range of nasal sprays, marking a significant step in the specialty pharmaceutical segment. This collaboration aims to leverage Strides’ global distribution capabilities and Kenox’s research expertise in inhalation therapies. With growing demand for user-friendly drug delivery systems, particularly in respiratory and neurological care, the partnership is expected to strengthen both companies’ positions in regulated markets.

Welcure Drugs has announced that a Singapore-based firm will acquire a 25% equity stake in the company, marking a significant step in its strategic growth trajectory. The investment is expected to strengthen Welcure Drugs’ financial position, expand its market reach, and support research and development initiatives. Analysts view this move as a vote of confidence in the company’s operational capabilities and growth potential.

Infosys Limited has been fined Rs. 66 lakh by Singapore’s tax regulator for lapses related to corporate tax filing requirements. The penalty stems from procedural non-compliance during the submission of certain statutory documents. While the fine is modest relative to the company’s global revenues, the incident underscores the growing scrutiny multinational corporations face over tax governance and regulatory adherence in overseas jurisdictions. Infosys, a leading IT services provider, has reportedly taken corrective measures to address the issues and reinforce compliance protocols.

Singapore-based Thakral Corporation has announced plans to begin manufacturing drone components in India, marking a significant step in the country’s expanding aerospace and unmanned aerial vehicle (UAV) sector. The move aligns with India’s “Make in India” initiative, aimed at boosting domestic production and reducing dependence on imported technology. By setting up localized manufacturing, Thakral aims to cater to both domestic and global markets, leveraging India’s engineering talent, cost advantages, and evolving regulatory framework.

CapitaLand Investment Ltd (CLI), a Singapore-based real asset manager, has formalized plans to inject over ₹19,200 crore into Maharashtra by 2030. This sweeping investment agreement, signed with the state government coinciding with the launch of CLI’s first Indian data centre in Navi Mumbai, will channel funds into business parks, data centres, logistics, and industrial infrastructure across Mumbai and Pune. The push serves as a cornerstone of CLI’s broader India strategy—targeting rapid expansion of its assets under management from S$8 billion to S$15 billion by 2028.

In a noteworthy development within India’s mid-cap corporate landscape, Unique Global Group has announced plans to acquire a substantial stake in IFL Enterprises Ltd., a move that could signal a new phase of diversification and growth for both entities. The acquisition, aimed at enhancing business synergies and expanding operational capacity, is expected to bolster IFL’s positioning in its core domains. The transaction reflects broader trends of strategic consolidation across sectors, as companies seek scale, operational efficiency, and access to new markets through inorganic growth.

India’s largest IT services company, Tata Consultancy Services (TCS), has launched an AI-focused innovation centre in Singapore aimed at accelerating the digital transformation of small and medium-sized enterprises (SMEs) and start-ups. Located at Changi Business Park within TCS Asia Pacific headquarters, the new facility will support up to 60 local businesses over the next 12 months, offering access to cutting-edge artificial intelligence solutions, top-tier consulting expertise, and collaborative development frameworks.