New Delhi: More than seven years after India signed the Comprehensive Economic Cooperation Agreement (CECA) with Singapore, the latter's share in India's total trade has not picked up. The India-Singapore CECA came into existence in August 2005 and, from 2007-08 to 2011-12, Singapore’s share in India's total trade has actually declined from 3.74% to 3.2%.
The decrease in share is despite the trade (export and imports) between India and the city state growing close to 20% annually, which indicates higher growth in New Delhi's trade with many other countries, especially those with which the base is relatively higher. Full story
