Overseas investment by Indian companies dips 42% to $1.45 billion in December: RBI data


In the year-ago period, companies in India had invested $2.51 billion in their foreign firms (joint ventures / wholly-owned units).

Overseas investment by domestic firms fell by over 42% to $1.45 billion in December 2020, according to Reserve Bank data.

In the year-ago period, companies in India had invested $2.51 billion in their foreign firms (joint ventures / wholly-owned units).

In November 2020, the total outward foreign direct investment (OFDI) was $1.06 billion, down by 27% from a month-ago period.

Of the total FDI investment by Indian companies during the month under review, $775.41 million was in the form of equity infusion and $382.91 million was in the form of loans.

Investment of $287.63 million was in the form of issuance of guarantee, as per the data.

Among major investors, ONGC Videsh Ltd. invested a total of $131.85 million in joint ventures and wholly-owned subsidiaries in Myanmar, Russia, Vietnam, Colombia, and British Virgin Islands among others.

Intas Pharmaceuticals invested $75.22 million in a wholly-owned subsidiary in the U.K. and Tata Consultancy Services invested $27.77 million in a wholly-owned unit in Ireland.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.

.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.