 "Illustration by Binay Sinha")
Tighter tax regulations have forced foreign portfolio investors (FPIs) operating out of tax-friendly Singapore and Mauritius to revaluate their strategy.
The combined share of these two jurisdictions in the total assets under custody of FPIs has dropped to a record low, shows data from the National Securities Depository's website (the figures are available since 2012). On the other hand, investment from America and Britain are up.
Mauritius and Singapore are still among the top five sources for FPI investment into India, after America. However, their collective share in FPI assets has reduced to 25 per cent, from 29 per cent a year
