Singapore: Singapore is aiming for a slice of India's rapidly expanding construction market, estimated to be worth $ 63 billion as of last year, the government said on October 4.

A high-powered business delegation led by Minister of State for the Ministry of National Development, Vivian Balakrishnan, will travel to India from October 6-12 to look for investment and joint venture opportunities for Singaporean firms.

The delegation, which will travel to the states of Maharashtra, Andhra Pradesh and Tamil Nadu, is backed by the government trade body International Enterprise Singapore (IES) and the Building and Construction Authority.

"Based on IE Singapore's preliminary findings, the Indian construction industry, made up of industrial, residential and commercial segments, was worth $ 63 billion in 2001, up from $ 39 billion in 1997," an IES statement said.

India has become one of Singapore's top five destinations for the export of construction services over the past three years, and the tiny city-state ranks as India's fourth largest foreign investor.

"There is tremendous potential for collaboration between Singapore and Indian players in the construction industry," the statement said.

It cited the abundance of resources and lower costs in India, and Singapore's expertise in design, project management, engineering consultancy work and facility management.