Singapore High Commissioner Simon Wong said on Tuesday that the Singapore Stock Exchange (SGX) will begin operations at GIFT City in collaboration with NSE from July this year. The news comes after Wong had a meeting with Gujarat Chief Minister Bhupendra Patel in Gandhinagar. The NSE IFSC-SGX Connect is an initiative taken up by the two countries to collaborate in trading stock index-based products.
Furthermore, Patel, during the meeting, invited fintech companies from Singapore to set up bases at GIFT City where SGX has already opened an office. He also encouraged MSMEs from Singapore to set up businesses in Gujarat.
Simon Wong is in India with a delegation that includes Consul General of Singapore, Cheong Ming Foong. The delegation met with Gujarat Governor Acharya Devvrat at Raj Bhavan in Gandhinagar yesterday as well.
On Monday Wong visited the affordable housing project in Hathijan of Ahmedabad that is being constructed in collaboration with Singapore’s Surbana Jurong. The housing project has been taken up under Pradhan Mantri Awas Yojana (PMAY) and similar projects are expected in other cities of the state including Rajkot, Surat and Vadodara.