Overseas investment by Indian companies in February at $2.37 bn, reveals RBI data
Overseas investment by domestic firms stood at $2.37 billion in February 2020, as per RBI data
Mumbai: Overseas investment by domestic firms stood at $2.37 billion in February 2020, as per RBI data.
In the year-ago same period, companies in India invested $2.36 billion. In January 2020, domestic companies invested $2.23 billion in their foreign firms (joint ventures/wholly-owned units).
Of the total investments in February this year, $1.16 billion was in the form of loans, $670.17 million was by way of issuance of guarantee while the rest $538.70 million was invested through equity, according to the data on Outward Foreign Direct Investment (OFDI) for last month.
Among the major investors, Bharti Airtel infused $978.92 million in a wholly-owned subsidiary in Mauritius, Tata Steel invested $162.19 million in a subsidiary in Singapore and Tata International pumped $112.99 million into a wholly-owned arm in Singapore.
Calleis Infrastructure invested $81.12 million in a wholly-owned subsidiary in the UK.
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Under the modified norms, all types of direct and indirect overseas investments, whether portfolio or FDI, will be subject to a composite foreign investment cap for that particular sector.