Singapore's Minister Mentor Lee Kuan Yew was right when he said India cannot overtake China. But I could not suppress a smile because he was suggesting growth strategies for India, which grew 7.9 per cent in the last quarter, while Singapore grew only 0.6 per cent.
But that is MM Lee — driven and relentless, an evangelist for free trade and open markets who transformed Singapore into a First World economy — and he was right. India has to develop its infrastructure and get rid of the red tape to achieve its full potential.
One can only wonder what India might be if it heeded his advice because, even as it is, the 16 or 17 richest Indians' combined wealth exceeds Singapore's gross domestic product. See this year's Forbes list of Indian billionaires.
However, India does not want to become another China, as the Indian Prime Minister Manmohan Singh made quite clear in an interview with Fareed Zakaria before his state visit to America last month.
It's good that India and Singapore are drawing closer together, for which one has to thank Singapore's Senior Minister Goh Chok Tong. It was he who, when he succeeded MM Lee as Prime Minister in 1990, had the vision to foresee India's economic potential and forged closer relations with the country.
China still remains a much bigger trading partner for Singapore, but imports exceed imports, according to figures from the World Trade Organization (WTO).
The WTO lists only the top five trading partners for each country. Here are Singapore's top trading partners and their share of Singapore's exports and imports.
| Exports | Imports | ||
| Malaysia | 12.1 | European Union | 12.3 |
| Indonesia | 10.6 | Malaysia | 11.9 |
| Hong Kong | 10.4 | United States | 11.8 |
| European Union | 10.4 | China | 10.6 |
| China | 9.2 | Japan | 8.1 |
Singapore is the fifth biggest market for Indian exports, according to the WTO. Here are India's top trading partners and their share of Indian exports and imports.
| Exports | Imports | ||
| European Union | 21.6 | European Union | 13.9 |
| United States | 11.8 | China | 10 |
| United Arab Emirates | 10.5 | United States | 7.8 |
| China | 5.6 | Saudi Arabia | 7.3 |
| Singapore | 4.9 | United Arab Emirates | 6.2 |
Air travel is another indicator of bilateral relations.
So the coming changes in Singapore Airlines services are significant.
It is suspending flights to Pakistan and Nanjing, reports Channel NewsAsia.
And there will be more flights to Houston, Manchester, Newark, Moscow, Dhaka, Mumbai, Delhi, Colombo and Seoul.
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