Overseas investment by Indian companies in February at $2.37 bn, reveals 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). [caption id=“attachment_4292949” align=“alignleft” width=“380”] Representational image. News 18.[/caption] 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.