Look to India for growth, ESG urges Singapore consumer firms

Singapore

THE size and structure of India's economy make it an attractive market for Singapore's consumer players, even amid fears of a global downturn.

And the next step up the value chain could be in-market production, said Tay Lian Chew, global market director for South Asia at government agency Enterprise Singapore (ESG).

"India is an economy that is quite self-contained, and I think it may be a bit more cushioned, compared with others," he said of a slowdown scenario. "In that sense, with India's growth, the incomes and the consumer spending will be there to stay."

One success story in India has been Tong Garden Food, known for products such as nuts and …