SEPTEMBERASIA BUSINESS OUTLOOK8NEWSROOMSingapore and India are set to announce a Comprehensive Strategic Partnership (CSP) road map today to enhance cooperation in high-growth areas such as semiconductors, AI, green energy, digital connectivity, and cross-border finance.Prime Minister Lawrence Wong, who made his first official trip to India as Prime Minister, stated that the road map for the CSP will "chart a clear direction and vision for the next stage of our bilateral relationship," particularly in advanced manufacturing and technology-based sectors."This is not just in name, but in substance," PM Wong said in an interview with the Hindustan Times, highlighting that the relationship is one of concrete action and outcomes.India and Singapore have already entered into agreements to simplify semiconductor supply chain logistics and co-develop a training facility in Gujarat. "We view India as an important partner in making the semiconductor supply chain more diversified and resilient," Wong stated.Singapore, India's largest foreign investor after 2000, accounts for approximately 25 percent of FDI equity inflows into India. The two countries are also looking into data flow architectures and integration of digital finance to enable business scalability."There's huge potential to enhance our financial and digital connectivity," Wong said after discussions with Indian Finance Minister Nirmala Sitharaman.Businessmen and businesswomen from both countries got together at the Confederation of Indian Industry on Sept 3, with PM Wong describing the exchange as "productive" and centered on "win-win opportunities.""As Asia navigates global uncertainty, this tie gives us much-needed stability and co-growth," Wong stated. Bain Capital and Sattva Group have launched a US$100 million co-living platform in partnership with Bangalore-based provider Colive, marking a major shift in India's rental housing landscape.Colive will manage the platform while also raising US$20 million in funding led by Bain Capital to support operations and expansion. Unlike earlier asset-light models where co-living firms leased existing properties, this platform focuses on direct real estate development by acquiring land and building purpose-built rental housing communities across major urban centers. Initial acquisitions have been made in Pune and Bengaluru, where about 500,000 sq. ft. of co-living space is under development. Expansion into Hyderabad and other Indian metros is also being explored.The investment comes as India's co-living market is poised to triple by 2030, with organized inventory expected to reach nearly 1 million beds. Rising rental prices in urban areas, up to 9 percent in 2024, are driving demand for shared living arrangements. Market dynamics further favor institutional investment, with co-living spaces generating 44 percent higher income per sq. ft. compared to traditional apartments.Additionally, consumer trends--such as 51 percent of millennials willing to spend over 25 percent of income on fully furnished accommodations--underscore the sector's growth potential. The Bain-Sattva-Colive model leverages Colive's operational expertise and Bain's capital strength to create a scalable, sustainable framework for the next phase of India's co-living evolution. SINGAPORE & INDIA BOOST TIES IN TECH AND GREEN SECTORSBAIN, SATTVA, COLIVE LAUNCH $100M CO-LIVING PLATFORM· Bain Capital & Sattva launch $100M co-living platform with Colive· 500,000 sq. ft. under development in Pune and Bengaluru· Co-living sector in India to reach 1M beds by 2030
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