Singapore replaces Mauritius as top source of FDI into India

Singapore has replaced Mauritius as the top source of foreign direct investment (FDI) into India during the first half of the current fiscal year 2015-16.
It was unveiled by the data during April to September 2015 period released by the Department of Industrial Policy and Promotion (DIPP).
Key facts

• India has attracted 6.69 billion dollars FDI from Singapore while it received 3.66 billion dollars from Mauritius.
• Highest foreign investment sector wise : Computer software and hardware (3.05 billion dollars), trading (2.30 billion dollars), services and automobile (1.46 billion dollars each) and telecommunications (659 million dollars).
• Foreign investment from Singapore has more than doubled from 2.41 billion dollars in the same period in FY year 2014-15.
• Overall, Singapore accounts for 15 per cent of the total inbound FDI received by India during April 2000 and September 2015. However, Mauritius accounted for 34 per cent of FDI during the same period.

Month: Current Affairs - December, 2015