New Delhi, July 12 - Singapore is the largest investor in India among the 10 ASEAN countries with its investments rising from Rs.1,416.9 crore in 2005 to Rs.15,775.9 crore in 2008, says an industry lobby report released Sunday.

Malaysia ranks second, with its investments in India going up from Rs.21.3 crore in 2005 to Rs.453.8 crore in 2008, according to the report by the Federation of Indian Chambers of Commerce and Industry (FICCI).

ASEAN is a geo-political and economic organisation of 10 Southeast Asian countries - Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Myanmar, Cambodia, Laos and Vietnam - that was formed to accelerate economic growth, social progress, cultural development and foster peace among members.

According to FICCI, cooperation with the ASEAN block is expected to get a shot in the arm when India signs the Foreign Trade Agreement with it next month.