India received the highest foreign direct investment (FDI) from Singapore in the fiscal year 2023-24, despite an overall contraction in overseas capital inflows by approximately 3.5% due to prevailing global economic uncertainties, according to the latest government statistics.
Although there was a decline of 31.55% in FDI from Singapore, amounting to USD 11.77 billion in the mentioned fiscal year, India still stood out as the top recipient of investments from the island nation, as revealed by the data.
Throughout the preceding fiscal period, FDI equity inflows saw a decline from key contributors such as Mauritius, Singapore, the US, the UK, UAE, Cayman Islands, Germany, and Cyprus. Conversely, there was an uptick in investments originating from the Netherlands and Japan.
Notably, Singapore has maintained its status as the primary source of such investments for India since 2018-19, replacing Mauritius, which held this position in 2017-18.
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