Banks in Singapore are improving operations in order to be ready to exploit the investment potential of the non-resident Indians (NRI) living in the city state.

The more than 300,000 NRI’s in Singapore have a investment wealth of USD 25 billion with a preference to invest in Indian securities and the Indian currency. According to a latest report in a media outlet, the number of NRIs with an appetite for investment in India is increasing drastically in the country.

The number is increasing specially as more Indian business are creating a foothold in the country taking the benefit of the India-Singapore double taxation treaty for expanding into other countries in the region.

The increased investment by the NRI makes Singapore banks to strengthen their operations in India and bring in experts to manage funds. It is estimated that about 5,000 of the NRI’s are high-net worth individuals.

Even as the city state does not host the NRI population comparable to the size of NRI population in the United States, United Arab Emirates and Britain, the volume of business has made it an important origin for investment in the country.