New Delhi: (PTI) India crossed the $300-billion foreign direct investment (FDI) milestone between April 2000 and September 2016, firmly establishing its credentials as a safe investment destination in the world.
Around 33% of the FDI came through the Mauritius route, apparently because the investors wanted to take advantage of India's double taxation avoidance treaty with the island nation.
India received $101.76 billion from Mauritius between April 2000 and September 2016. The cumulative FDI inflows during the period amounted to $310.26 billion. The inflows in the first half of the current financial year was $21.62 billion, according to data compiled by the Department of Industrial Policy and Promotion (DIPP).
The other big investors have been from Singapore, the US, the UK and the Netherlands.
India's services sector topped the table, receiving 18% of the cumulative equity FDI inflows, followed by construction development, computer software & hardware, telecommunication and automobile.
India crossed the $300 billion mark at a time when the global economic slowdown has had a dampening impact on FDI flows which are expected to fall this year.