Corporate India's foreign direct investment dips 63% to $1.17 bn in May, says RBI data

Mumbai: Indian companies' investments into their overseas subsidiaries/joint ventures fell by 63 percent to $1.17 billion in May this year, according to RBI data.

In May 2017, India Inc's foreign direct investment stood at $3.12 billion.

US dollars. Reuters

US dollars. Reuters

In April 2018, the outward foreign direct investment (OFDI) of Indian firms was $3.56 billion.

Of the total investment by domestic firms in overseas ventures in May 2018, $374.18 million was in the form of equity infusion, $162.96 million in loan and $630.45 million as guarantee issuances, as per Reserve Bank data.

Among the major companies that made investment in their overseas subsidiaries/joint ventures included Indiabulls Real Estate $368.09 million, ONGC $57.94 million, Tata Hitachi Construction Machinery $26.62 million and Wadhawan Global Captial $15.23 million.

Cumulatively, the overseas direct investment in first two months (April-May) of this fiscal stood at $4.73 billion.

Updated Date: Jun 25, 2018 15:58 PM

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