Foreign direct investment (FDI) into India increased by 16.5% to $2.46 billion in March this year.
The FDI inflows were at $2.11 billion in the same month of last year, according to the data of the Department of Industrial Policy and Promotion (DIPP). For the entire 2015-16 fiscal ended March 31, the inflows grew by 29% to $40 billion as against $30.93 billion in 2014-15. FDI for 2015-16 was the highest since 2000-01. The services segment attracted the highest investments of $6.88 billion followed by computer hardware and software ($5.90 billion), trading business ($3.84 billion) and automobile industry ($2.52 billion). Singapore toppled Mauritius as the top FDI source for FDI in India last fiscal. India received $13.69 billion overseas inflows from Singapore, followed by Mauritius ($8.35 billion), the US ($4.19 billion), the Netherlands ($2.64 billion) and Japan ($2.61 billion).