Mauritius Tops India FDI Chart

Island nation Mauritius elbowed out Singapore to emerge as the top source of foreign direct investment into India in 2016-17, PTI reported. In absolute terms, foreign inflow from Mauritius in 2016 -17 stood at $15.72 billion whereas that of Singapore read $8.71 billion, showed data of the department of industrial policy and promotion. In 2015-16, Singapore was in the number one position. According to experts, the drop in FDI from Singapore last financial year may be on account of revision of tax treaty with an aim to check round-tripping of funds. The revised treaty came into force from February this year. Mauritius Prime Minister Pravind Kumar Jugnauth, who was in New Delhi, stated that a comprehensive economic cooperation pact with India is being negotiated that will boost bilateral trade and investments. Interestingly, although Singapore has come off the perch to the second slot, foreign capital from that country into India is on the upswing. FDI inflow of $13.7 billion in 2015-16 was the highest ever received from Singapore since 2006-07.