It might seem ok now but it's not always like this. Sometimes it goes over 200...sometimes 300
BTW what is the minimum ping rate required for a smooth gameplay?
That really depends on the game. For FPS , anywhere between 100-150ms is sufficient , ideal range is 75-120ms.
For strategy like games such as League of Legends, DOTA, Heroes of Newerth e.t.c , you can easily play with a ping of 250-300 ms.
MMORPGs where all you have to do is click and watch as your character attacks also fall into the 250-300 ms category. But watch out for MMORPGs that have FPS like combat - you'll need really good pings on those , like 100-150ms.
Ping rates are usually affected by the route to the game's servers. So , you might get more lag when connecting to Singapore because the data packet has to travel across the whole of India. As I've explained earlier , I get good pings to Singapore since I'm already on the east coast.
In short -
Distance , Distance , Distance . You should see the state of players from the Middle east. Not many servers are hosted there , and they're forced to connect to European or Asian servers, which triggers a ping of 300+ms (I should know, I've lived in the middle-east).