According to government data, India got highest FDI from Singapore in 2023-24

Current Context: According to the latest government data, India received the highest foreign direct investment (FDI) from Singapore in the fiscal year 2023-24.

• However, it’s worth noting that the FDI from Singapore dipped by 31.55% to $11.77 billion in 2023-24.
• Despite this decrease, India still attracted the maximum inflows from Singapore.
• Overall, foreign direct investment (FDI) equity inflows into India declined moderately to USD 44.42 billion in the fiscal year 2023-24, reflecting a 3.49 per cent decrease from the previous year’s figure of USD 46.03 billion.
• This contraction was due to global economic uncertainties and lower infusion in sectors like services, computer hardware and software, telecom, auto and pharmacy among others.
• Since 2018-19, Singapore has been the largest source of such investments for India.

Question:

1. Which country was the largest source of foreign direct investment (FDI) into India in the fiscal year 2023-24?

• A) USA
• B) China
• C) Japan
• D) Singapore

Answer: D) According to the latest government data, India received the highest foreign direct investment (FDI) from Singapore in the fiscal year 2023-24.