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Innovation Corridor to help Singapore companies pilot urban solutions in Indian state of Andhra Pradesh

Innovation Corridor to help Singapore companies pilot urban solutions in Indian state of Andhra Pradesh

International Enterprise Singapore (IE Singapore) has announced
initiatives to help Singapore companies access opportunities in the state of
Andhra Pradesh in India. IE Singapore is co-developing an Andhra
Pradesh-Singapore Business Council led by the Singapore Business Federation
(SBF) and the Confederation of Indian Industry (CII) to drive private sector
business collaboration. In addition, an innovation corridor will be developed
for Singapore companies to pilot innovative urban solutions and scale up in
Andhra Pradesh.

These initiatives were announced at the 24th Partnership Summit in Andhra
Pradesh today. The MOU signed by SBF and CII for the Andhra Pradesh-Singapore
Business Council, witnessed by Singapore’s Minister for Trade and Industry
(Industry) Minister S Iswaran, and Andhra Pradesh Chief Minister Nara
Chandrababu Naidu. These follow the MOU signed last year for greater
collaboration between Singapore and Andhra Pradesh in economic development
through identifying business opportunities and sharing expertise.

Supported by business-friendly policies such as the Single
Desk Policy (a one stop window to approve new investments within 21 days),
Andhra Pradesh has consistently been ranked amongst the top Indian states to do
business. It is one of the fastest growing states in India with Gross State
Domestic Product (GSDP) growth of 11.6% in 2016, above the national average of
7.1%.

The Andhra Pradesh-Singapore Business Council will comprise
company representatives from both Andhra Pradesh and Singapore. This
association-led initiative aims to drive private sector partnerships between
Singapore and Andhra Pradesh across priority sectors including smart
infrastructure, agrifood and logistics. The council will also identify common
projects, conduct business matching, and hold regular missions and events.

In a joint statement issued by the Ministry of Trade and
Industry (MTI) today, Amaravati Partnership Office and the Andhra Pradesh
Capital Region Development Authority announced their partnership on an
Innovation Corridor to promote greater collaboration on innovation. The
Innovation Corridor is a platform to discover, pilot and scale Singapore’s
innovative urban solutions in Amaravati [1],
its capital city, with the aim to expand across India and rest of the world.

A consortium comprising Singapore companies Ascendas-Singbridge
Pte. Ltd. and Sembcorp Development Ltd. was
selected
for master development of the commercial core of Amaravati, which is
planned to be a green, smart and sustainable city. Previously IE Singapore had
signed a Memorandum of Understanding (MoU) with the Infrastructure Corporation
of Andhra Pradesh in December 2014 to jointly master plan Amaravati. IE
Singapore coordinated with its integrated arm, Singapore Corporation Enterprise
to carry out the master planning and Surbana Jurong was appointed as the master
planners in January 2015.

Singapore companies can now develop and pitch solutions
based on challenges identified in the building of Amaravati. The solutions if
selected will be piloted in the city. Singapore’s Amaravati Partnership Office
and the Government of Andhra Pradesh will set up a taskforce to facilitate this
through innovation events to source for innovative urban solutions.

The first Innovation Corridor cycle is currently planned for
the Happy Cities Summit in Andhra Pradesh in April 2018 and the World Cities
Summit in Singapore in July 2018.

Mr Tan Soon Kim, Assistant Chief Executive Officer (CEO) of
IE Singapore, said, “Building upon the strong Government-to-Government ties
between Andhra Pradesh and Singapore, these two initiatives will deepen our
partnership and open up new avenues for Singapore companies to access
opportunities in Andhra Pradesh. The Andhra Pradesh-Singapore Business Council
will promote regular interaction and business collaboration between the private
sectors of Andhra Pradesh and Singapore, while the Innovation Corridor will
provide more direct access for Singapore’s innovative urban solutions to be
implemented in Amaravati. IE Singapore will continue to work closely with SBF
and our in-market partners to help Singapore companies understand the market
landscape and capture diverse opportunities in Andhra Pradesh.”

Mr Ho Meng Kit, CEO of SBF and Mission Leader, commented,
“The establishment of the Council is timely as SBF steps up our engagements
with Andhra Pradesh. This mission is the Federation’s second visit here in 6
months, and is intended to explore in greater depth some priority sectors which
have been earmarked, such as ports and logistics; agribusiness; and building
and construction. We have engaged the Council and Secretariat of our fellow
Trade Associations and Chambers (TACs) on Singapore’s involvement in Andhra
Pradesh over the past months. SBF will be working closely with them moving
forward, to further structure and translate these opportunities to the wider
Singapore business community. Some of the other key sectors in the immediate
term include technology; food manufacturing and processing; and tourism and
hospitality.”

[1] A new state of
Telangana was carved out of Andhra Pradesh in June 2014. According to the
legislative bill creating the new city, the capital of the combined state,
Hyderabad would be the capital city and part of Telangana, while the city would
remain the capital of Andhra Pradesh for no more than ten years. So, the new
city of Amaravati will serve as the capital of Andhra Pradesh.

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