11-July-2020
Economy News
 
Now, China can’t even use Singapore route to push its FDIs into India – New Delhi planning this
30-Jun-2020

India is set to tighten the scrutiny of foreign direct investments (FDIs) from Singapore, amid growing apprehensions that cash-rich Chinese companies could route their investments through the island nation to bypass New Delhi’s stringent FDI policy for bordering countries. Singapore replaced Mauritius as the largest source of FDI for India in FY19 and accounted for close to 30% of such inflows into equities in the last fiscal. Already, the customs officials have raised scrutiny of imports from China. However, the government will likely step up vigil in such a manner that the flow of genuine FDI from Singapore isn’t upset in this process, sources told FE. While a formal proposal is yet to be floated for this purpose, informal deliberations have started in some quarters, one of the sources said. “The government is mindful of the fact that bona fide FDI from Singapore or others don’t get affected at all,” he added.

News Source:- https://www.financialexpress.com/economy/now-china-cant-even-use-singapore-route-to-push-its-fdis-into-india-new-delhi-planning-this/2007858/