mumbai singapore is fast becoming a magnet and the gateway for indian outbound investments not only has the island nation posted a 20 jump in attracting indias outbound investment in the second half of 2011 over the previous year but the indian community has also become the largest foreign business community in singapore with a fourfold jump in numbers of registered businesses to over 4000 since 2001 the country which accounted for a fifth of indias 20 billion outbound foreign direct investment during the second half of 2011 could actually witness a bigger jump next year as its expected to outpace tax haven mauritius the current favourite accounting for a fourth of the outbound fdi things could change this year because of a budget proposal to target income tax avoiders through the imposition of general antiavoidance rule gaar from april 2013 which will arm tax authorities with powers to even tax retrospectively companies such as gvk gmr and lanco have all have made singapore a hub for their international business operations the list also includes tata capital tata communications fortis lt and tcs some like hcl and punj lloyd are planning to expand their operations this comes at a time when many pe firms hedge funds and other investors are now seen shifting their bases from mauritius to singapore in terms of the richness of the entrepreneurial community indians actually form the largest foreign business community in singapore in terms of the numbers of enterprises being registered there this is the testament of the indian entrepreneurial spirit for whom singapore forms a very comfortable and natural platform to operate in we do see that they continue to grow and india will continue to sustain itself as the largest business community there i am excluding the singaporeans lee eng keat international director asiapacific singapore economic development board edb told toi the latest to look at singapore closely is anil ambaniowned reliance communications which is planning to list its undersea cable business flag telecom in singapore to raise 14 billion this quarter reliance is planning to list it as a trust lot of companies have listed in singapore in form of trusts like india bulls ascendas india mercator and aban offshore as it provides more sophisticated financing solutions said keat during the last quarter indias biggest firm by market capitalization reliance industries raised over 1 billion through a bond issuance in singapore to fund its us shale gas business as island nation emerged as a leading debt listing venue in asia indian firms accounted for 14 of the total bond issuances after korea if you look at convertible bonds of asia about 85 of them are listed on the singapore exchange also since 61 of rmbdenominated bonds are listed on the singapore exchange it provides an enhanced flow of rmb for indian companies to tap on said keat last year tata communications made singapore its international headquarters by investing s210 million in a data centre and telecommunications facility and plans to invest