Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Singapore pips Mauritius as top source of FDI in India

May 26 2014, 05:53 IST
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SummarySingapore has replaced Mauritius as the top source of foreign direct investment into India, accounting for about 25% of FDI inflows in 2013-14.

Singapore has replaced Mauritius as the top source of foreign direct investment into India, accounting for about 25% of FDI inflows in 2013-14.

During the last financial year, India attracted $5.98 billion in FDI from Singapore, whereas it was $4.85 billion from Mauritius, according to the data of the Department of Industrial Policy and Promotion (DIPP).

According to experts, the Double Taxation Avoidance Agreement (DTAA) with Singapore incorporates Limit-of-Benefit (LoB) clause which has provided comfort to foreign investors based there.

"LoB clause in India-Singapore treaty justifies the substance in Singaporean entities, bringing certainty and avoiding chances of litigations," head of tax and expert on FDI with corporate law firm Amarchand & Mangaldas Krishan Malhotra said. FDI inflows from Mauritius have started drying up on fears of the impact of GAAR and possible re-negotiation of the tax avoidance treaty, he added. PTI

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