The Economic Times, 21 Nov 2008, Rajat Guha
NEW DELHI: Singapore has become the second largest source of foreign direct investment (FDI) into India, surpassing the US and the UK. Tax-haven Mauritius continues to lead the charts. Until July this year, the US was the second largest source followed by the UK.
FDI from Singapore soared by $1 billion in July and August this year whereas long-term investment flow from the US and the UK was $300 million and $50 million, respectively. In the FY 2006-07, FDI from Singapore was $570 million, much below the US and the UK, as FDI from these two countries were $856 million and $1,878 million, respectively.
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