 Singapore and India have traditionally enjoyed close relations due to historical and cultural ties. It's very named Singapore is derived from the Sanskrit Singapura or the Lion City. Here in Little India, it is difficult to believe that one is in Singapore. The sights and sounds, the shops and restaurants, homes and hotels are completely Indian. Many Indians migrated here in search of work and today they form a rich, prosperous community. In recent times, both countries established a joint study group to look into establishing a comprehensive economic agreement. Both countries also hope to consolidate and expand cooperation in areas such as science, biotechnology and information technology. Singapore is the headquarters for Singapore Telecommunication or SingTel, which is the largest telecom company in Southeast Asia. As part of its expansion plans as a global player, SingTel has arranged eye-ups with many international companies. One of them is India's Bharti Televentures. Together, they entered into a 50-50 joint venture to set up a mega capacity submarine cable network connecting Singapore and Chennai in India. Another important company is Ascendus. Based in Singapore, Ascendus has done major construction work in Hebroubad, Bangalore and Chennai. Ascendus has a well-established track record as Asia's leading providers of total business space solutions. Ascendus developed, manage and market industrial space, science parks and high-tech facilities. Singapore has always been seen as the perfect destination for both business and pleasure. It is a meeting place where India and Singapore have frequently come together for mutually beneficial collaborations.