India Inc’s outward direct investment in June doubled to $ 2.8 billion

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.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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