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India Inc’s overseas direct investment falls 31% in Feb

Domestic companies made investments of $2.66 billion in their overseas subsidiaries and joint-ventures in the year-ago month, February 2020.

By: ENS Economic Bureau | New Delhi |
March 8, 2021 1:23:08 am
Of the total investment made by Indian companies in foreign markets, $1.36 billion was in the form of loan. (Representational)

India Inc’s overseas direct investment fell by 31 per cent to $1.85 billion in February this year, the RBI data showed.

Domestic companies made investments of $2.66 billion in their overseas subsidiaries and joint-ventures in the year-ago month, February 2020.

Of the total investment made by Indian companies in foreign markets, $1.36 billion was in the form of loan; $297.37 million comprised as equity investment and the rest of $183.82 million was by way of issuance of guarantee, according to the RBI data on outward foreign direct investment (OFDI) – February 2021.

However, total OFDI by domestic firms in February was higher than that of $1.19 billion in January 2021. Among the major companies who invested in their overseas ventures during the month included Tata Steel ($1 billion in its wholly-owned subsidiary in Singapore), and Sun Pharmaceutical Industries —$100 million in a joint venture in the US.

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