Foreign direct investment by domestic companies more than doubled to $ 2.80 billion in June this year, according to RBI data.
India Inc had invested $ 1.39 billion in overseas companies in the month of last year.
However, on a month-over-month basis, investment fell by more than 58% from $ 6.71 billion in May 2021, according to RBI data on overseas investment by Indian companies. .
Of the total investment in June 2021, 1.17 billion USD was in the form of a guarantee issue, 1.21 billion USD was granted in the form of a loan, while the equity investment amounted to 426.84 million USD.
Major investors included Tata Steel, US $ 1 billion in a wholly owned subsidiary in Singapore; Wipro $ 787.5 million in a 100% owned unit in the United States; and Tata Power USD 131.25 million in a 100% owned unit in Mauritius.
Reliance Industries invested $ 56 million in WOS agriculture and mining in Singapore; Interglobe Enterprises has invested $ 51.5 million in a UK joint venture; ONGC Videsh Ltd USD 48.31 million in a JV in Mozambique and Paharpur Cooling Towers USD 48 million in a 100% subsidiary in Singapore.
Among others, Tata Communications has invested $ 50 million in WOS in Singapore; ONGC Videsh invested 48.70 million USD in a JV in Russia; and WNS Global Services invested 45 million USD in a JV in the Netherlands.
The RBI said the data is provisional and subject to change based on online reports from authorized dealer banks.
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