Singapore emerged as the largest source of foreign direct investment (FDI) to India during the July-September quarter, contributing 50 per cent of the total inward investments, according to data from the Department for Promotion of Industry and Internal Trade (DPIIT).
FDI inflows from Singapore surpassed $7.5 billion during the quarter, highlighting the neighbouring country’s pivotal role in India’s investment landscape. Overall, foreign portfolio investment (FPI) into India surged by 43 per cent to $13.6 billion in the same period for the 2024-25 fiscal year.
“Singapore stands with India,” Singapore’s High Commissioner to India, H.C. Wong, said in a post on X, sharing the latest FDI figures.
India, grappling with a slowdown in foreign investment in recent years, has increasingly relied on FDI to bolster its economy.
Singapore has consistently been a significant contributor. In 2023-24, it was India’s largest FDI source, with inflows totalling an estimated $11.77 billion.
Cumulatively, FDI from Singapore amounted to approximately $159.94 billion from April 2000 to March 2024, DPIIT data showed.
In terms of bilateral trade, Singapore ranked as India’s sixth-largest global trading partner in 2023-24, with total trade between the nations reaching $35.61 billion. This figure accounted for nearly 29 per cent of India’s total trade with ASEAN countries.
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