Even FDI from Singapore has dipped by 31.55 per cent to $11.77 billion in 2023-24.
During the previous fiscal year, FDI equity inflows from major countries, such as Mauritius, Singapore, the US, the UK, UAE, Cayman Islands, Germany, and Cyprus decreased. However, there was a marked increase in investments from the Netherlands and Japan. Since 2018-19, Singapore has been the largest source of such FDI investments for India. In 2017-18, India attracted the maximum FDI from Mauritius. According to experts, after the India-Mauritius tax treaty amendment, Singapore has emerged as the preferred jurisdiction for investment in India. Rumki Majumdar, Economist, Deloitte India, said that as one of the world’s prominent financial hubs, Singapore attracts global investors.
