India'S Ministry Of Finance Has Cut Tariffs On 539 Kinds Of Manufactured Goods In Singapore.

This latest initiative will further promote bilateral trade in goods, and bilateral trade in goods will double to $32 billion by 2015.

Cut tariffs on 539 finished products, and reduce the import cost of a series of products, including machinery and electrical appliances, machinery, textile raw materials and textiles, rubber and plastic products.

The bilateral free trade agreement is officially known as the comprehensive economic cooperation agreement (CECA). It began operation in August 2005, and the two countries lowered tariffs and expanded trade in goods.

In May 2010, the two sides agreed to expand bilateral trade from 16 billion US dollars to US $32 billion by 2015.

With the launch of a new round of tariff reductions (539 products), import tariffs on 307 products are now close to zero and are expected to be cancelled in December 1st.

For foreign direct investment (FDI), Singapore is the largest investor in ASEAN countries in India, and is the second largest investor in all countries.

Official figures show that Singapore invested $2 billion 400 million in India in 2009-10 years.

From April 2000 to March 2010, the total investment amounted to US $10 billion 200 million.