Dutch, Singapore firms set to invest $7 billion in India

Singapore's High Commission in India said a post on X social media that the country's delegation will announce 270 billion rupees ($3.25 billion) of investments at the Gujrat summit

An electrician sets up lamps on a plant in front of Vibrant Gujarat Global Summit, in Ahmedabad, India, January 4, 2024. REUTERS

Dutch and Singapore firms are set to commit $7.19 billion in investments in India during a investors' summit in Prime Minister Narendra Modi's home state of Gujarat, months before a national election.

Modi will address thousands of investors on Wednesday at the start of the three-day Vibrant Gujarat Global Summit where business leaders, chief executives and diplomats from 133 countries will participate.

The summit is one of Modi's last major investment summits before the elections, in which he will fight for a third term and is widely expected to win.

Posters of Modi were put up across Ahmedabad, the largest city of Gujarat, along with those of UAE President Sheikh Mohammed bin Zayed al-Nahyan who arrived in the state on a visit ahead of the event.

Singapore's High Commission in India said a post on X social media that the country's delegation will announce 270 billion rupees ($3.25 billion) of investments at the summit.

On Monday, Amlan Bora, the chief India representative of the Netherlands Business Support Office, told the ANI news agency that the Dutch delegation, including Dutch companies, will propose total investments of 3.6 billion euros ($3.94 billion) in Gujarat and other Indian states at the summit.