Mumbai: Mauritius provided the maximum inward foreign direct investment, accounting for 20.8 per cent of FDI in India, followed by the US, Britain, Singapore and Japan till the end of the last fiscal, the RBI said on Tuesday.
Instead "the major destination for ODI (Overseas Direct Investment) by Indian companies was Singapore (20.6 per cent) in March 2016," said a Reserve Bank of India statement as the central bank released its Census on Foreign Liabilities and Assets of Indian Direct Investment Companies for 2015-16.
"The total inward FDI stock stood at Rs 20.1 lakh crore, whereas total ODI was placed at Rs 5,79,020 crore at market value in March 2016.
"FDI stock at market value in the manufacturing and services sectors stood at Rs 10,00,630 crore and Rs 8,59,080 crore, respectively, in March 2016," it said.
"In the latest round of the Census, of the 18,549 reporting companies, 17,008 companies had FDI/ODI in their balance sheet in March 2016," the statement added.
Total sales, including exports, of Indian subsidiaries overseas increased 22.5 per cent to Rs 3,30,110 crore in 2015-16. The total value of their purchase, including imports, during the same period increased by 44.7 per cent to Rs 3,15,070 crore.
"Total sales of foreign subsidiaries in India (including exports of Rs 5,49,360 crore) stood at Rs 17.1 lakh crore in 2015-16, while their purchases (including imports of Rs 4,61,420 crore) were placed at Rs 10.8 lakh crore" RBI said.
Source: Indo-Asian News Service