In his speech at the Centennial Celebration of the Singapore-Indian Chamber of Commerce & Industry (SICCI) on May 4, President Tharman Shanmugaratnam noted that SICCI’s roles “have evolved quite dramatically over the last 100 years”.
The trade association – one of Singapore’s oldest – has had to adapt from the days when Singapore was a colonial trading station, to gaining independence, to having a diverse and internationalised economy today.
“SICCI has progressed to serve the Indian business community in a broad range of sectors, well beyond the trading community,” said Mr Tharman, who was the guest of honour at the event.
“It is playing an especially important role in helping businesses to embrace the opportunities of a digital and sustainable economy and to invest and operate abroad.
“SICCI also brings together all segments of the Indian business community in Singapore – those with roots and networks in different parts of India, those long established in Singapore, and newer enterprises including those which have arrived in Singapore in recent years.”
More than 500 people attended the event, including Minister for Health Ong Ye Kung along with other members of parliament, diplomats and prominent business owners.
SICCI’s journey began in 1924, when a small, dedicated group of Indian businessmen formed an association to better protect, advance and unify the interests of the Indian business community.
First known as the Indian Merchants Association (IMA), the organisation played a pivotal role in serving as a rallying point for Indian businesses in Singapore.
SICCI’s agenda is now focused on three pivotal pillars in the coming years – internationalisation, digitalisation and sustainability.
These pillars exemplify the association’s dedication to expanding global outreach, harnessing technological advancements and championing sustainable business practices.
Said Mr Neil Parekh, chairman of SICCI, who is also a nominated member of parliament: “Since the Chamber’s humble beginnings in 1924, we have helped pave the way for many local Indian businesses, and contributed to the Singapore story for the past 100 years in many ways.
“We are excited to embark on the next 100 years and look forward to empowering our members to thrive in the dynamic global economy.”
Mr Parekh, who was recently re-elected as SICCI’s chairman for a second two-year term, said that nearly 125 businesses took part in five trade missions that were organised and led by SICCI, in conjunction with Enterprise Singapore and other associations, over the last two years.
Many of these companies went on to sign agreements on actual business opportunities during these international missions, he said.
