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ECONOMY

Singapore, US Biggest FDI Source for India During April-September 2020

According to the commerce and industry ministry, US emerged as the second biggest source of foreign direct investment (FDI) into India, replacing the Mauritius, during the first half of the ongoing fiscal.
During April-September 2020, India has attracted FDI worth $7.12 billion from the US and $2 billion from Mauritius, holding the fourth position while in the same period last year Mauritius was the second biggest FDI source and US on the fourth, the data from DPIIT (Department for Promotion of Industry and Internal Trade) showed. 
Singapore with investments worth $8.30 billion continued to remain as a top source of FDI for India in H1FY21. Cayman Islands with $2.1 billion foreign inflows followed by Netherlands with $1.5 billion, UK with $1.35 billion, $1.13 billion from France, $653 million from Japan while $202 million from Germany and Cyprus with $48 million of investment in India.
According to the experts, the increasing inflows from US reflect to further strengthen the economic ties between both the countries. Despite that, Mauritius still accounts for 29 per cent of the total inflows in India in the form of FDI during April, 2000 and September, 2020.

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