Singapore replaces Mauritius as top source of FDI into India

ಜ್ಞಾನಸೆಲೆ

ಜ್ಞಾನಸೆಲೆ GK4KPSC ಸಾಮಾನ್ಯ ಜ್ಞಾನ

 

Singapore has replaced Mauritius as the top source of foreign direct investment (FDI) into India during the first half of the current fiscal. During April-September 2015, India has attracted USD 6.69 billion ( Rs 43,096 crore) FDI from Singapore while from Mauritius, it received USD 3.66 billion (Rs 23,490 crore), according to data from the Department of Industrial Policy and Promotion (DIPP).  In the same period FDI from Mauritius was 23490 crore rupees.

Overall, Singapore accounts for 15 per cent of the total FDI India received during April 2000 and September 2015. However, Mauritius makes up 34 per cent of FDI during the same period. 

Double Taxation Avoidance Agreement (DTAA) with Singapore incorporates Limit-of-Benefit (LoB) clause, which has provided comfort to foreign investors based there to invest in India due to which Foreign investment from Singapore has more than doubled from USD 2.41 billion in the year-ago period.

Sector wise highest FDI :

Sectors that attracted highest foreign investment during April-September 2015 includes computer software and hardware (USD 3.05 billion), trading (USD 2.30 billion), services and automobile (USD 1.46 billion each) and telecommunications (USD 659 million).