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Singapore

Existing Business Collaborations and Partnerships in Singapore-India relations

  • FDI Trends and Business Relationship: Singapore has historically invested heavily in India, particularly in sectors like manufacturing, financial services, telecommunications, and IT. Both countries have well-defined agreements facilitating trade, services, investment, and tax avoidance.
  • Investment in Infrastructure and Operations: Singaporean companies have been actively involved in India’s infrastructural development, including airports, seaports, IT infrastructure, and special economic zones. Additionally, major Indian banks have operations in Singapore, showcasing the depth of economic ties.
  • Presence of Established Companies: Highlight the presence of top Indian and Singaporean companies operating in each other’s countries. This demonstrates the existing successful business ventures and partnerships.
  • Bilateral Collaboration in Science and Technology: Both nations have collaborated closely in various sectors such as aviation, space programs, biotechnology, and energy, offering avenues for innovation and growth.
  • Growing Business Opportunities: Emphasize India’s rapidly growing sectors like e-commerce, ed-tech, biotechnology, and renewable energy, which present lucrative investment opportunities for Singaporean companies.

Singapore’s Demand for Indian talent Across Industries

Information Technology

 India is renowned for the abundant availability of skilled professionals related to the IT industry, such as skilled software engineers, developers, programmers, and IT professionals. Singaporean companies can easily tap into those talents to boost their business operations.

Engineering Services

India has a strong base of engineers specializing in various fields such as mechanical, electrical, civil, and software engineering, making it an attractive destination for Singapore companies looking for engineering-related projects.

Banking and Financial Services

With a robust banking and financial services sector, India offers a diverse talent pool of finance professionals, analysts, accountants, and banking experts. Singaporean companies can easily hire these professionals for various financial services-related projects.

Healthcare and Pharmaceuticals

India is known for its medical expertise and is a favorable destination for medical experiments and testing. Singapore companies can take this opportunity to boost their pharmaceutical industry. India is a major source of a skilled workforce comprising doctors, nurses, pharmacists, researchers, and healthcare administrators. 

Moving Toward a Future for Business Collaboration and Partnerships

  • Digital Payment Integration: Mention recent developments such as the integration of digital payment systems between India and Singapore, which streamline cross-border transactions and enhance business efficiency.
  • Skill Development Initiatives: Highlight collaborative efforts in skill development projects across various sectors, showcasing the commitment to fostering talent and expertise exchange between the two countries.
  • Supportive Government and Business Ecosystems: The Indian government has implemented various initiatives and reforms to encourage foreign investment and facilitate business operations. This includes initiatives to improve the ease of doing business, simplify regulatory processes, and provide incentives for foreign investors.
  • Talent Availability: Stress India’s abundant pool of skilled professionals, which can address talent shortages in Singapore across industries like banking, finance, IT, healthcare, and education.
  • Cost-Effectiveness and Remote Hiring: Highlight India’s cost-effective talent pool and the popularity of remote hiring options like employer of record (EOR) services and freelancing, which can help Singaporean companies optimize their operations.

India and Singapore are collectively shaping a future for robust business investment opportunities. Both countries have joined hands on numerous bilateral agreements to strengthen their business relationships, such as digital payment integration, skill development initiatives, and extensive support for ease of doing business. India’s abundant talent availability and cost-efficiency facilities are two key attractions for Singaporean firms looking to harness the Indian market to unlock substantial triumph.

Singapore India

US Industries Hiring Indian Talent 

With India’s booming e-commerce market set to reach USD 112.93 billion by 2024, US businesses can tap into Indian talent well-versed in digital platforms, customer engagement, and market expansion strategies, leveraging their expertise to navigate the rapidly growing online retail landscape.

India’s growing healthcare sector, projected to achieve a CAGR of 17.31%, presents an opportunity for US businesses to access skilled Indian professionals in healthcare services, pharmaceuticals, and wellness products. Collaborating with Indian talent can enhance innovation and global market reach in the healthcare industry.

India’s IT industry, expected to reach US $26.45 billion by 2024, offers US businesses access to a vast pool of skilled IT professionals proficient in software development, cybersecurity, and digital transformation. Hiring Indian talent can drive technological innovation and competitiveness in global markets.

India’s renewable energy capacity exceeding 180.79 gigawatts positions it as a leader in sustainable solutions. US businesses can benefit from collaborating with Indian experts in solar, wind, and energy storage technologies, fostering innovation and advancing renewable energy initiatives globally.

India’s Edtech industry, projected to be worth US $10.4 billion by 2025, showcases the nation’s expertise in technology-driven education solutions. US businesses can leverage Indian talent to develop innovative Edtech platforms and content, enhance learning experiences, and expand educational reach globally.

India’s diverse food and beverage sector, contributing 3% to the GDP, offers US businesses access to a vibrant market and skilled food processing, product development, and marketing professionals. Collaborating with Indian talent can facilitate market entry and product innovation in the F&B industry.

With the growing demand for logistics and transportation services in India, US businesses can tap into Indian expertise in supply chain management, last-mile delivery solutions, and infrastructure development. Partnering with Indian professionals can optimize logistics operations and expand market reach efficiently.

Why are US companies choosing India

For many US companies, India has emerged as a strategic destination ripe with opportunities. Here’s why:

1. Market Potential: With a population of over 1.3 billion people and a rapidly growing middle class, India offers a vast and diverse market for US products and services. From consumer goods to technology solutions, there’s a demand waiting to be met.

2. Skilled Workforce: India boasts a large pool of highly skilled and educated professionals across various fields, including engineering, IT, finance, and healthcare. US companies leverage this talent pool to drive innovation and maintain competitiveness in the global market.

3. Cost Efficiency: India’s favorable cost structure, including lower labor costs compared to Western countries, makes it an attractive destination for outsourcing and offshoring. US businesses can achieve significant cost savings without compromising on quality.

India offers a compelling mix of market potential, skilled talent, cost efficiency, strategic location, and government support, making it an attractive destination for US businesses looking to expand their workforce in Indian markets. With the right approach and strategic partnerships, US companies leverage the Indian market for significant success.

US India

Our EOR Support for Your Seamless Business Operations

Compliance support

EOR services enable Singaporean companies to avoid legal hurdles when entering the Indian market. EOR ensures your business operation complies with the existing labor laws and employment regulations, shielding you from non-compliant risks.  

Access to the Indian talent pool

With EOR support, Singapore companies can hire the best Indian talent who rightly fits the requirements of your industry and business domain. India has a pool of skilled resources, and EOR has networks and knowledge to tap into those resources.    

Streamlined HR administrations

EOR services provide a simplified and centralized approach to HR support and administration for your employees in India. EORs manage the administrative tasks of your employees to make them stay motivated, engaged, and aligned with your main objectives.

Talent acquisition

EOR has a deep knowledge of the choice and preference of Indian talent looking for better career opportunities. EORs help find the right talent for Singapore companies by posting jobs, shortlisting candidates, and interviews.

Local compliance

Why Remunance for Your Business?

  • Expertise in the Indian market: Remunance is a seasoned player in the Indian EOR services industry and has a proven track record of delivering quality services.
  • Prompt response: Remunance understands the sense of urgency to each inquiry of our clients. We always timely respond to our customers either through email or call.
  • Offering add-on solutions: We also provide additional services, such as recruitment, IT & infrastructure support, and expat support in addition to core services, including payroll & tax, HR services, benefits administration, and compliance support.
  • Customized solutions: Remunance provides tailored services and solutions to help address the specific needs of our clients. We charge service fees only for selected service support.
  • Transparency in service cost: Remuance sets its service fees at a fixed rate starting from USD 199 and the service change can go up to USD 566 depending on the choice of the service our clients require.
  • ISO-certified company: We are an ISO-certified company and ensure safeguarding your information with us. Ensuring data security and privacy rights of clients are our priorities.

Our Success Stories

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Remunance X Medtigo, the success story of building a remote team

Building a team can be a tedious task, especially if you have to build one that is an expert in the medical domain! In this video we present you with a fantastic story highlighting the complete journey from discovery to delivery as to how this fantastic team came into existence.

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Best PEO (Professional Employer Organization) in India - Formaliti

PEO offered more flexibility & reliability while building a team in India. Formaliti got the exact talent they were looking for in India to start with, Remunance PEO helped Formaliti saved time as well as proved to be more cost-effective than outsourcing.

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Success Story | PEO to Forming a subsidiary in India | IntervalZero

Jeff from IntervalZero describes the journey of American startup with Remunance, how they set up their base in India which later turned into a wholly-owned subsidiary of IntevalZero saved time as well as proved to be more cost-effective than outsourcing.

FAQs

What is Employer of Record (EOR) services, and how can it benefit Singapore businesses in India?

Employer of record (EOR) services are local entities that provide compliance support for businesses expanding their operations internationally. Singapore companies can hire and employ Indian talent easily and compliantly with EOR service support. Also, companies don’t need upfront capital to start an operation in India as partnering with EOR services, Singapore companies don’t need to form a legal entity in India. 

What kind of support does Remunance provide to Singapore companies expanding into India?

Remunance provides a range of support services and handles HR services, payroll & taxes, benefits administration, and compliance assurance related to your Indian team. With the help of Remuance service support, Singapore companies can expand their operations in India without worrying about compliance risks and administrative burdens.

How does Remunance ensure compliance with Indian labor laws and regulations?

Remuance has a deep knowledge of the Indian market and stays abreast of Indian labor laws and employment compliance regulations. We ensure that businesses hire and operate in India in compliance with the Indian legal laws and employment regulations. Remunance protects overseas businesses from legal risks and non-compliant issues. 

Can Remunance customize its services to meet the specific needs of Singapore businesses?

Yes, Remunance provides customized services and solutions as per the specific needs of client businesses. You can prepare the list of services as per your requirements and select only those services. You only pay for the services that you use. Or, if you need extra services and it’s as per the existing Indian regulations, we can provide those additional services for your employees.

What industries does Remunance specialize in supporting for Singapore companies in India?

Remunance can support Singapore companies to enter the Indian market regardless of industries. We have good experience working across business domains and industries– be it, IT & telecom, healthcare & pharmaceutical, finance & banking, designing & engineering, tourism & hospitality, entertainment, and more. 

How does Remunance ensure data security and confidentiality?

Remunance is an ISO-certified EOR service provider in India having extensive knowledge of data security and confidentiality protection. At Remunace, we have ISMS policies in place to protect the sensitive information of our clients from third-party organizations. Additionally, we ensure that our data protection practices comply with international standards and regulations, such as GDPR. 

Explore the potential of your India chapter!

 

Our experts can help you navigate through the Indian talent market while providing the best and the most viable solutions for your business, grow your team smoothly with Remunance.

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