Year in Review, 2024 - SICCI's Centennial and Beyond
Singapore Indian Chamber of Commerce & Industry
Building Businesses Building Communities
2024 marked a significant chapter in the history of the Singapore Indian Chamber of Commerce and Industry (SICCI) as we celebrated our centennial. This milestone year reflected our commitment to supporting the Indian business community in Singapore by fostering collaboration with members and economic partners.?
Guided by three strategic pillars - digitalisation, internationalisation, and sustainability - SICCI worked diligently to address these priorities, ensuring a meaningful centennial year for all.?
As we reflect on the achievements of 2024 and pave the way for the future, the Chairman and Board of Directors, Executive Director, and the entire SICCI secretariat extend heartfelt gratitude to each and every one who has contributed to the Chamber's success over the years. We wish you a prosperous and healthy New Year 2025.
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The Centennial Celebrations ?
The Chamber held several key events to celebrate its centennial in 2024.?
SICCI began 2024 on a high note by leading two significant trade missions to Tamil Nadu and Gujarat, building on the engagements from the visits of Chief Ministers Mr M.K. Stalin (May 2023) and Mr Bhupendra Patel (December 2023).?
On 27 January 2024, SICCI launched its centennial celebrations with a meaningful tree-planting event at Jurong Lake Gardens. This location holds historical significance as it symbolises the beginnings of Singapore's industrial journey post-independence. The event was graced by Mr. Shawn Huang, MP for Jurong GRC and Senior Parliamentary Secretary for Finance and Education.?
The initiative raised $100,000, which was donated to the Garden City Fund, an initiative championed by Singapore's first Prime Minister, Mr. Lee Kuan Yew. SICCI also planted over 350 trees, reinforcing its commitment to sustainability and advocating for environmental responsibility among its members.?
Two months later, On 27 March 2024, the Chamber unveiled its iconic centennial logo alongside a fireside chat at One Farrer Hotel, featuring discussions on the implications of Budget 2024, with two of Singapore's fourth-generation ministers. The logo was launched by Senior Minister of State Mr. Zaqy Mohamad and Mr. Alvin Tan, Minister of State for Trade and Industry, as well as Culture, Community, and Youth, who also serves as an Advisor to SICCI.?
On 4 May 2024, SICCI celebrated a century of excellence by honouring Singapore's Indian business community at the Centennial Gala Dinner and Entrepreneur Awards 2024, held at Shangri-La Singapore. The event was graced by His Excellency President Tharman Shanmugaratnam and his wife, Mrs. Jane Ittogi, and Minister Ong Ye Kung.?
President Tharman commended SICCI's contributions and encouraged the Indian business community to expand their ventures beyond India, leaving a distinctive Singapore mark across continents. The evening also recognised business stalwarts among the Chamber's longest-serving members and celebrated exceptional entrepreneurs across various categories, highlighting the achievements of both seasoned and young leaders in the Indian business fraternity. Minister Ong Ye Kung joined President Tharman in presenting the awards to the recipients.?
The centennial celebrations also featured a pictorial exhibition showcasing defining moments in SICCI's 100-year history. This memory wall now has a permanent home within the Chamber's premises, serving as a testament to SICCI's enduring legacy.?
On 4 October 2024, Deputy Prime Minister and Minister for Trade and Industry, Mr Gan Kim Yong, unveiled the Centennial Book during SICCI's Deepavali celebrations at Shangri-La Singapore. This publication reflects the Chamber's dedication over the years to fostering economic ties, promoting inter-chamber harmony, and expanding the external wing of both SICCI and Singapore's Indian business community.?
A pivotal moment of the centennial year was the transition to a new Board of Directors during the Chamber's Annual General Meeting held at Grand Copthorne Waterfront on 14 June 2024. Mr. Neil Parekh was re-elected as Chairman for a second term, symbolising continuity and strong leadership. The new Board members received their appointment letters from Ms Indranee Rajah, Minister in the Prime Minister's Office, and an Advisor to SICCI.?
Additionally, SICCI witnessed an empowering milestone with the unveiling of the next chapter of the Sisterhood of Entrepreneurs (SHE), the Chamber's women's wing. The event, also graced by Ms Indranee Rajah, highlighted the Chamber's commitment to fostering inclusivity and supporting women entrepreneurs.?
Through impactful initiatives, workshops, and networking opportunities, SHE fosters leadership, entrepreneurship, and collaboration among women in the business ecosystem. This emphasis on collaboration is not just a part of our mission, it is at the heart of our mission, ensuring every member feels connected and part of a larger community. We are not just a Chamber; we are a network and a community of like-minded individuals striving for success.
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Staying Connected with Our Members
At the forefront of all the Chamber's activities is our unwavering commitment to our members. We strive to remain engaged with them and ensure that their needs and expectations are not just met but exceeded. This commitment is not just a part of our mission, it is our core mission. Our members are not just beneficiaries; they are integral to the Chamber's mission and success.?
2024 witnessed numerous occasions to engage our members through networking events and occasional topical discussions on subjects of interest and concern to the business community. The Chamber held regular talks to cover cybersecurity, the advent of AI, the financial and economic outlook for the region, and ways to remain fit and engaged. These efforts are not just about engagement, they are about empowerment, ensuring our members are informed and prepared for the challenges and opportunities in the business world.?
The SME Centre@SICCI continues to be a vital resource for SMEs, particularly the Indian business community. It provides essential business advisory services and facilitates access to various government grants. As of Dec 2024, the Centre has assisted more than 1500 companies, addressing common queries and concerns to ensure the growth and sustainability of our members' businesses.
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Going Global
It was a busy year for the Chamber's internationalisation subcommittee, as its team led members on various business and trade missions worldwide. The Chamber also participated in global investment and business summits hosted by several Indian states. Ahead of these summits, the chief ministers of these states organised roadshows in Singapore to encourage the investor community to consider their states as prime destinations for business expansion and collaboration on joint projects.?
The Missions to India in early 2024 coincided with two major investment summits: the Tamil Nadu Global Investors Meet and the Vibrant Gujarat Summit, which provided valuable platforms for further strengthening trade relations.?
Next was Mauritius, from 23 to 29 July 2024. The delegation comprised 18 entrepreneurs and investors from Malaysia, Singapore and Thailand who visited Mauritius to explore investment and business opportunities across various sectors, including manufacturing, horticulture, and information and communication technology (ICT).?
领英推荐
In October 2024, SICCI successfully concluded a trade mission to Delhi, where its delegation participated in a landmark event organised by India's Ministry of Communications (MoC). The event brought together 6,000 delegates from over 110 countries for the first-ever joint hosting of the International Telecommunication Union (ITU), the World Telecommunication Standardization Assembly (WTSA), and the Indian Mobile Congress (IMC), marking significant milestones for the global telecom industry.?
From 25th to 29th November 2024, SICCI successfully led its first-ever trade mission to Istanbul, Turkey, at the invitation of MüS?AD, for their bi-annual business event. This mission was fully supported by the Embassy of Turkey in Singapore and the Turkish Ambassador, Hon Mehmet Bur?in G?nenli, and his trade office. It marked a significant milestone in strengthening trade relations between Singapore and Turkey.?
At the Rising Rajasthan Global Investment Summit (GIS) 2024 in December, SICCI had the privilege of leading the Singapore Session titled "Sustainable Industrial Development: A Singaporean Perspective". During this session, SICCI showcased Singapore's innovative strategies for balancing economic growth with environmental sustainability, offering valuable insights to support Rajasthan's development and future growth.
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SICCI's Bilateral relations with India
The centennial year of 2024 marks a defining moment for SICCI, highlighting its pivotal role in strengthening the strategic partnership between Singapore and India. Under the leadership of Chairman Neil Parekh, SICCI has sparked an "India Fever" — a powerful initiative to deepen trade, investment, and diplomatic ties between the two nations through various trade missions.?
One standout initiative has been SICCI's proactive approach to engaging Indian Chief Ministers visiting Singapore. By leading investment trade missions to global summits, SICCI ensured that Singapore's interests remained a priority, fostering meaningful business discussions and collaborations. The Chamber also partnered with prominent Indian organisations, such as the Mahratta Chamber of Commerce and Industries and the PHD Chamber of Commerce and Industry, to facilitate joint ventures and partnerships in emerging sectors.
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Look out for SICCI in 2025
SICCI and SG 60: Singapore turns 60 in 2025, and SICCI stands shoulder to shoulder with the leadership under Prime Minister Lawrence Wong to take Singapore to even greater heights, especially in ensuring that the Indian business community stands ready to meet global economic challenges. In this regard, SICCI will constantly voice the community's concerns at various business forums and in Parliament in the speeches to be delivered by its Chairman and Nominated MP, Mr Neil Parekh. SICCI will also work closely with multiple bodies and the sister Chambers of Commerce to commemorate SG 60.
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60th year of Singapore-India ties
Bilateral ties between Singapore and India will also turn 60 in 2025. SICCI remains committed to taking this partnership to new heights, ensuring mutual growth and prosperity for both nations. In fact, in this landmark year, 2024, SICCI has not only celebrated a century of legacy but also charted a bold course for the future of Singapore-India relations, and this is expected to make even more significant strides in the years ahead.
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Future Trade Missions in 2025
In 2025, the SICCI plans to strengthen its global footprint by leading high-profile trade missions to indian states and some ASEAN countries. These missions will focus on fostering bilateral trade relations, exploring investment opportunities, and creating new business partnerships across various sectors.?
These missions align with SICCI's commitment to fostering innovation, sustainability, and bilateral trade relations across diverse and growing markets. SICCI aims to provide valuable opportunities for its members and contribute to Singapore's global business expansion through these initiatives.?
In conclusion, SICCI's Chairman, Mr Neil Parekh, has this message for the Chamber's members and all Singaporeans.?
"Celebrating 100 years of growth and achievement for an organisation like a Chamber of Commerce is no mean feat, especially in a world order where survival is a day-to-day concern for businesses and for the man in the street.?
It has been my honour to helm the Chamber and lead its directors and secretariat staff team in its centennial year and beyond. All this would not have been possible without the strong support of our members, many of whom have become household names in Singapore. Our country has a bright future ahead. Let us work with our leaders to continue growing the economic pie for the betterment of our companies, workers and their families".?
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HAPPY 2025 FROM ALL OF US AT SICCI!