FDI flows from low-tax nations on a rebound
The latest performance restores to these three countries the record of accounting for more than half of the annual flows that they had enjoyed in all the earlier years, barring the last two fiscals.
Their contribution had slipped to 45 per cent in 2010-11 and 48 per cent in 2011-12. Latest data of the Department of Industrial Policy and Promotion (DIPP) show that 51 per cent of the cumulative FDI flowing into India in the last 12 years has originated from offshore business centres such as Mauritius, Singapore and Cyprus.
Of the total FDI in India during April 2000 to July 2012, Mauritius accounted for the lion’s share of 37 per cent. But in the backdrop of heightened awareness on financial loopholes facilitating round-tripping, besides the uproar over black money, the proportion of FDI from the Mauritius had dipped to 28.3 per cent of the total kitty in 2011-12.
Bangladeshi academician Rashiduddin Ahmed has called for the banning of the country's biggest Islamist party, the Jamaat-e-Islami, saying that it represents the wrong face of Islam.
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