Indian exports to Singapore has increased by 49 percent between January and September of this year over the same period last year, driven by a market opening agreement between the two nations. 

According to data released Monday by the International Enterprise Singapore (IE Singapore), Indian exports to Singapore increased by 49 percent year-on-year to SGD 9.26 billion in the first nine months of 2010, while imports from Singapore increased by 31 per cent to SGD 13.42 billion. 

Bilateral trade has seen a quantum jump of 98.6 percent during the period, aggregating Dollar (Singapore) 22.68 billion (USD 17.4 billion) during the period.

The two countries have been liberalising trade since 2005, which was further given a push when they implemented a trade opening pact with ASEAN.

Duties on over 2,700 product lines have been eliminated as part of these agreements.