USA Current Affairs

Mauritius was largest source of FDI in India in 2016-2017: RBI

According to Census on Foreign Liabilities and Assets of Indian Direct Investment Companies 2016-17 released by Reserve Bank of India (RBI), Mauritius was largest source of foreign investment (FDI) in India.

The census yields carry comprehensive information on market value of foreign liabilities and assets of Indian companies arising on account of FDI, ODI and other investments.

Key Facts

Mauritius was largest source of FDI in India (21.8% share at market value) followed by USA, UK, Singapore and Japan. Singapore (19.7%) was major ODI destination, followed by Netherlands, Mauritius, and US.

18,667 companies had participated in census, of them 17,020 had FDI/overseas direct investment (ODI) in their balance sheets in March 2017. 96% of responding companies were unlisted in March 2017 and most of them had received only inward FDI.

Unlisted companies had higher share of FDI equity capital vis-a-vis listed companies. Further, over 80% of 15,169 companies that reported inward FDI were subsidiaries of foreign companies (single foreign investor holding over 50% of total equity).

The manufacturing sector accounted for nearly half of total FDI at market prices, information and communication services (ICTS) and financial and insurance activities were other major sectors that attracted FDI. Total sales, including exports, of foreign subsidiaries in India increased by 18.7% during 2016-17 whereas their purchases, including imports, increased by 20.1%.

Month: Categories: Business & Economy Current Affairs 2018

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Barack Obama authorised air strikes against ISIS militants in Syria

The US President, Barack Obama for the first time, authorized US air strikes against Islamic State of Iraq and Syria (ISIS) militants in Syria. He also asked to increase the airstrikes in Iraq. This will be the first unrestricted bombing crusade of the US against jihadist ISIS militants in Syria. As per the strategy, the airstrikes will be a organized crusade of against the group.

Obama held that the air strikes were essential counter-terrorism action to stop the ISIS group to become a threat for the US in future, thus his order doesn’t need congressional approval. ISIS militants have seized a swath territory in northern parts of Iraq and Syria.

Apart from this, the key ten Arab countries have agreed to help the US in its fight against the jihadist group, Islamic State (IS). They have assured to offer military backing and humanitarian assistance to the US to stop the flow of funds and foreign fighters to ISIS. Only, the NATO member, Turkey declined to join in the group of Arab nations that will support the US.

Month: Categories: Banking Current Affairs 2018International Current Affairs 2018

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