World economy: Current Affairs, GK & News - 2020-2021
Mauritius was largest source of Foreign Direct Investment (FDI) in India in FY17
Published: January 22, 2018
Mauritius was the largest source of Foreign Direct Investment (FDI) in India in FY17, according to recent census by the Reserve Bank of India (RBI). It has 21.8% share at market value. As per RBI’s data on Census on Foreign Liabilities and Assets of Indian Direct Investment Companies 2016-17, United States has acquired 2nd position ..
India gets maximum FDI from Singapore
Published: December 22, 2016
As per the report by industry chamber PHDCCI and KPMG, in 2015-16, India had received the maximum FDI inflows from Singapore followed by Mauritius, the US, the Netherlands and Japan. India had attracted $13.69 billion FDI from Singapore in 2015-16. The survey has also stated that 40% of FDI flows on average between 2000 and ..
FIIs pull out $2 billion hot money from India in 2016
Published: December 15, 2016
India is headed towards losing its safe haven status among foreign portfolio investors after a nearly USD 2-billion pullout of so-called ‘hot money’ 2016. This has made it the last period in the last 8 years in case of foreign investments. The debt instruments have taken the major setback after they had been the most ..
India, Switzerland sign Joint declaration on bank account holders
Published: November 23, 2016
As a step towards fighting black money stashed abroad, ‘Joint Declaration‘ for implementation of Automatic Exchange of Information (AEOI) has been signed between India and Switzerland. This will lead to automatic sharing of information regarding the Swiss bank accounts held by Indians as of September 2018 and onwards. However, details about the accounts held prior ..
Topics: AEOI • Bank secrecy • Banking in Switzerland • Common Reporting Standard • Economy • International taxation • Offshore financial centre • Privacy • Tax • Tax avoidance • Tax evasion • World economy
India and Cyprus revise the double taxation avoidance agreement (DTAA)
Published: November 19, 2016
A revised Double Taxation Avoidance and the Prevention of Fiscal Evasion (DTAA) agreement has been signed between India and Cyprus in Nicosia. This revised agreement will replace the existing DTAA that was signed in 1994. Cyprus is a major source of foreign funds flows in India. From April 2000 till March 2016, India received foreign direct ..