India Inc’s outward direct investment drops 31% in February
India Inc’s direct investment abroad fell 31% to $ 1.85 billion in February this year, according to RBI data.
Domestic companies invested $ 2.66 billion in their subsidiaries and joint ventures abroad during the month of February 2020.
Of the total investments made by Indian companies in foreign markets, $ 1.36 billion was in the form of loans; $ 297.37 million was in equity investments and the remainder of $ 183.82 million was in the form of collateral issuance, RBI data shows on outgoing foreign direct investment (OFDI) – February 2021.
However, total foreign direct investment by domestic firms in February was higher than $ 1.19 billion in January 2021. Among the large firms that invested in their overseas businesses during the month were Tata Steel ( $ 1 billion in its wholly owned subsidiary in Singapore) and Sun Pharmaceutical Industries – $ 100 million in a joint venture in the United States.