Mauritius beats Singapore as largest FDI source for India at $7.66 bn over Apr-Jan
Last fiscal (Apr’13-Mar’14), Singapore had overtaken Mauritius as the largest source of FDI in India, sending FDI equity inflow of INR 35.6 billion (USD 5.9 billion) to India, while Mauritius routed investment of INR 29.6 billion (USD 4.8 billion) to India, but currently Mauritius has regained its position, with Singapore lagging behind at INR 32.15 billion (USD 5.26 billion) from Apr’14-Jan’15. (Image: Indian Express)
Mauritius became the largest source for foreign direct investment (FDI) in India during April-January with an inflow of INR 46.66 billion (USD 7.62 billion) in the first 10 months of the current fiscal year of India, which will extend from 1 April 2014 to 31 March 2015.
In the last fiscal, Singapore had overtaken Mauritius as the largest source of FDI in India, with FDI equity inflow of INR 35.6 billion (USD 5.9 bn) against INR 29.6 billion (USD 4.8 bn) routed through Mauritius, but currently Mauritius has regained its position, channeling INR 46.66 billion ( USD 7.66 bn) to India from 1 April 2014 to 31 January 2015, against INR 32.15 billion (USD 5.26 bn).
Inflows being routed through Mauritius to India, as indeed inflows overall into the Indian continent from all corners of the globe, have been given a boost by the positive business sentiment surrounding the Indian sub-continent since the new government under Narendra Modi came to power in May 2014.
The Indian Prime Minister not only met erstwhile Mauritian Prime Minister Navin Ramgoolam immediately following his victory at the elections, but was also present as chief guest at the National Day of Mauritius, celebrated on 12 March 15, reflecting the positive relationship between India and the island economy.
Giving a geographical break-up of the FDI equity inflows into India, the island economies of Mauritius and Singapore were followed by Netherlands at USD 3.14 billion, USA at USD 3.17 billion, Japan at USD 1.61 billion and UK at USD 1.15 billion.
Overall, foreign investment from all the countries to India stood at INR 155.49 billion during the April-January period of the current fiscal as against INR 113.4 billion during the corresponding period in the last fiscal.