In the era of globalization, Indian investors are increasingly looking toward international markets to diversify their investment portfolios. The total overseas direct investment (ODI) from Indian firms increased by 19.46% in FY2023, reaching Rs 9.11 lakh crore, as against Rs 7.62 lakh crore in the previous year.
Singapore as a Leading Destination: In FY2023, Singapore emerged as the top beneficiary of Indian ODI, receiving Rs 2.03 lakh crore. This accounts for 22.3% of the total ODI, indicating the significant interest of Indian firms in the Singaporean market.
Please click here to read the full article by Sidharrth Shankar and Kumarmanglam Vijay, published in The Financial Express.
Kumarmanglam is an equity partner of the firm and also heads the direct tax and regulatory practice at JSA. He has more than 25 years of experience in matters relating to direct taxation (including international taxation, transfer pricing, litigation, anti-avoidance laws, and M&A tax), accounting, and corporate laws including mergers and acquisition, joint ventures, foreign investments, market entry strategy, and corporate restructuring.