<p> Singapore has replaced Mauritius as the top source of foreign direct investment (FDI) into India during the first half of the current fiscal.<br /><br /></p>.<p>During April-September 2015, India has attracted $6.69 billion (Rs 43,096 crore) FDI from Singapore while from Mauritius, it received $3.66 billion (Rs 23,490 crore), according to data from the Department of Industrial Policy and Promotion (DIPP).<br /><br />Foreign investment from Singapore has more than doubled from $2.41 billion in the year-ago period.<br /><br />According to experts, the Double Taxation Avoidance Agreement (DTAA) with Singapore incorporates Limit-of-Benefit (LoB) clause, which has provided comfort to foreign investors based there to invest in India.<br /><br />Best-suited clause<br /><br />“Investors are preferring Singapore to Mauritius as the LoB clause in India-Singapore treaty provides substance and certainty,” said Krishan Malhotra, head of tax and an expert on FDI with corporate law firm Shardul Amarchand and Mangaldas.<br /><br />FDI from Singapore during the first six months of the current financial year is also more than what it had invested in India for the whole of 2013-14 ($5.98 billion). India had attracted $6.74 billion foreign investment during 2014-15.<br /><br />Overall, Singapore accounts for 15 per cent of the total FDI India received during April-September 2015.<br /><br />However, Mauritius makes up 34 per cent of FDI during the same period.<br />The sectors that attracted the highest foreign investment during April-September 2015 include computer software and hardware ($3.05 billion), trading ($2.30 billion), services and automobile ($1.46 billion each) and telecommunications ($659 million), among others.<br /><br />Source Course <br /><br /> Singapore becomes top source for FDI into India<br /> In April-September 2015, India gets $6.69 b FDI from Singapore<br /> Investors prefer the Asian city-state over island nation Mauritius<br /><br /></p>
<p> Singapore has replaced Mauritius as the top source of foreign direct investment (FDI) into India during the first half of the current fiscal.<br /><br /></p>.<p>During April-September 2015, India has attracted $6.69 billion (Rs 43,096 crore) FDI from Singapore while from Mauritius, it received $3.66 billion (Rs 23,490 crore), according to data from the Department of Industrial Policy and Promotion (DIPP).<br /><br />Foreign investment from Singapore has more than doubled from $2.41 billion in the year-ago period.<br /><br />According to experts, the Double Taxation Avoidance Agreement (DTAA) with Singapore incorporates Limit-of-Benefit (LoB) clause, which has provided comfort to foreign investors based there to invest in India.<br /><br />Best-suited clause<br /><br />“Investors are preferring Singapore to Mauritius as the LoB clause in India-Singapore treaty provides substance and certainty,” said Krishan Malhotra, head of tax and an expert on FDI with corporate law firm Shardul Amarchand and Mangaldas.<br /><br />FDI from Singapore during the first six months of the current financial year is also more than what it had invested in India for the whole of 2013-14 ($5.98 billion). India had attracted $6.74 billion foreign investment during 2014-15.<br /><br />Overall, Singapore accounts for 15 per cent of the total FDI India received during April-September 2015.<br /><br />However, Mauritius makes up 34 per cent of FDI during the same period.<br />The sectors that attracted the highest foreign investment during April-September 2015 include computer software and hardware ($3.05 billion), trading ($2.30 billion), services and automobile ($1.46 billion each) and telecommunications ($659 million), among others.<br /><br />Source Course <br /><br /> Singapore becomes top source for FDI into India<br /> In April-September 2015, India gets $6.69 b FDI from Singapore<br /> Investors prefer the Asian city-state over island nation Mauritius<br /><br /></p>