Mauritius is replaced by Singapore as top source of FDI into India [ Current Affairs ]
During the first half of the current fiscal year 2015 - 16 Mauritius has replaced by Singapore as the top source of foreign direct investment (FDI) into India. According to the Department of Industrial Policy and Promotion (DIPP) data of April to September 2015 period it was clearly discovered.
- India has involved 6.69 billion dollars FDI from Singapore while it received 3.66 billion dollars from Mauritius.
- According to Highest foreign investment sector Computer software and hardware (3.05 billion dollars), trading (2.30 billion dollars), services and automobile (1.46 billion dollars each) and telecommunications (659 million dollars).
- In FY year 2014 - 15 foreign investment from Singapore has more than doubled from 2.41 billion dollars in the same period.
- Generally, Singapore accounts 15 % of the total income of FDI received by India from April 2000 and September 2015.
- Conversely, Mauritius has accounted 34 % of FDI during the same period.
- Mauritius is an island nation located in Indian Ocean around 2, 000 km off the southeast coast of African continent.
- The island’s name as Mauritius under British rule.
- The country became an independent state on 12 March 1968.
- The island of Mauritius was visited during the medieval period by the Arabs and then by the Portuguese, who known it as Dina Arobi and Cirne, respectively.
- The island is usually known as the home of the dodo, which, along with several other avian species, was made extinct by human activities relatively shortly after the island’s settlement.
- Published on: December 7, 2015