New "Temples" of India
After 1991, India after decades of stifling its own economic growth, has reformed its economy and has implemented its Look East policy to enhance its economic, business and trade linkages with East Asian economies. At the same time, Singapore has reached its own domestic limits to economic growth and is encouraging its companies to invest overseas to create its "external economic wing". Collaboration in information technology (IT) formed the key to initiating economic cooperation between Singapore and India. India has excellent IT talent but inadequate infrastructure to tap this talent for economic growth while Singapore has excelled in building high technology parks. The resulting collaboration is Singapore's flagship investment, the IT Park in Bangalore, India.