Photo: iStockNew Delhi: Island nation Mauritius elbowed out Singapore to emerge as the top source of foreign direct investment (FDI) into India in 2016-17. According to experts, the drop in FDI from Singapore last fiscal may be on account of revision of tax treaty with an aim to check round-tripping of funds. The FDI inflow of $13.7 billion in 2015-16 was the highest ever received from Singapore since 2006-07. Taken together, Mauritius and Singapore account for 50% of total capital inflows into the country. In 2016-17, the total FDI in India grew by 9% to $43.5 billion.

Source: Mint May 28, 2017 11:26 UTC