Indo-Singapore trade may reach $25 billion by FY20: FIEO

NEW DELHI: Exporters' body FIEO today said there is a huge potential to increase bilateral trade between India and Singapore to USD 25 billion by 2019-20.

India's export to Singapore grew by 23 per cent last fiscal, though overall exports expanded by only 4 per cent.

However, bilateral trade with Singapore is only 2.52 per cent of India's overall trade, Federation of Indian Export Organisations (FIEO) President Ganesh Gupta said in a statement.

"We can easily reach USD 25 billion trade with Singapore by 2019-20 from the current level of USD 17 billion," he said.

FIEO is there in Singapore to participate in the Singapore International Expo.

Gupta said the expo is providing an opportunity to MSMEs to showcase wide range of quality products to high demanding customers in Singapore.

Participants from 89 companies are representing their products from sectors including apparel, gems and jewellery, furnitures, handicrafts and textiles.