June 10 (ANI): After coming in second to Mauritius for two years, Singapore regained the top spot as India’s largest source of Foreign Direct Investment (FDI) in the 2018-19 financial year, which ended in March. For the last fiscal, USD 16.2 billion of foreign investment originated from the island republic. This is according to the latest report published by the India’sDepartment for Promotion of Industry and Internal Trade (DPI). Mauritius, which came in second with USD 8
In 2018-19, the Billion of investments was the top source of FDI for financial years 2016-17 and 2017-18 with USD 15.7 billion and USD 15.9 billion, respectively. The last time Singapore emerged as the top investment source was in 2015-16, with USD 13.7 billion. Mauritius was second that year with USD 8.4 billion. Investments from Singapore stood at USD 8.7 billion for 2016-17 and USD 12.2 billion for 2017-18.
That Singapore has emerged as the largest source of FDI into India for two of the last four years is a significant statement of the growing strength of business relationships between the two countries. Traditionally, Mauritius has always been on top of the FDI chart. Since the year 2000, Mauritius has consistently topped the table. TMauritius’scumulative amount of investment funds at a phenomenon USD 134.5 billion whereas Singapore is second at USD 83 billion. For the fiscal year 2018-19, the following three positions are occupied by the Netherlands with USD 3.9 billion, the United States with USD 3.1 billion, and Japan with USD 3 billion. On a US dollar basis, FDI into India declined by 1 percent from last year to USD