Akshata Sharma
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India received the highest foreign direct investment (FDI) from Singapore in 2023-24, even as overall capital inflows into the country contracted by about 3.5% due to global economic uncertainties, according to the latest government data.
Although FDI from Singapore dipped by 31.55% to $11.77 billion in 2023-24, it remained the largest source of FDI for India.
During the last fiscal year, FDI equity inflows decreased from several major countries, including Mauritius, Singapore, the U.S., the U.K., the UAE, the Cayman Islands, Germany, and Cyprus.
However, investments from the Netherlands and Japan increased. FDI from Mauritius declined to $7.97 billion in 2023-24 from $6.13 billion in 2022-23.
The U.S. was the third-largest investor in India in 2023-24, with $4.99 billion in foreign investments, down from $6 billion in 2022-23.
It was followed by the Netherlands ($4.93 billion), Japan ($3.17 billion), the UAE ($2.9 billion), the U.K. ($1.2 billion), Cyprus ($806 million), Germany ($505 million), and the Cayman Islands ($342 million).
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