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Singapore topples Mauritius in FPI race aided by growth in equity assets

String of regulatory setbacks have hurt Mauritius in the past two years

FDI, INVESTMENT, investment, foreign investment, foreign direct investment, FPI, dollar inflow, GROWTH, MARKETS, FUNDS, SHARES, DEMAND, GROWTH, mutual fund, fund, stocks

The renegotiation of India’s tax treaties with Mauritius and Singapore in 2016 and the introduction of General Anti-Avoidance Rule (GAAR) in 2017 has also benefited Singapore indirectly.

Ashley Coutinho Mumbai
Singapore has pipped Mauritius to become the number two jurisdiction, only behind the US, for foreign portfolio investments (FPI) into India, aided by steady growth in equity assets, as well as a string of regulatory setbacks to Mauritius over the past two years.
Total assets under custody (AUC) routed via Singapore to India at the end of August stood at Rs 3.46 trillion — a 13.7 per cent rise over the previous year. About a third of these were debt assets, including investments through the voluntary retention route (VRR), which comes with a three-year lock-in. Total assets from Mauritius

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First Published: Sep 29 2020 | 6:50 PM IST

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