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India Inc’s foreign direct investment dips 63% to $1.17 billion in May: RBI

Some of the major companies which made investments in their overseas subsidiaries/joint ventures included Indiabulls Real Estate, ONGC, Tata Hitachi Construction Machinery, and Wadhawan Global Capital.

business Updated: Jun 25, 2018 17:40 IST
Press Trust of India
Press Trust of India
Press Trust of India, Mumbai
FDI,Foreign direct investment,India companies FDI
In April 2018, the outward foreign direct investment (OFDI) of Indian firms was $3.56 billion.(AP Photo)

Indian companies’ investments into their overseas subsidiaries/joint ventures fell by 63% to $1.17 billion in May this year, according to RBI data.

In May 2017, India Inc’s foreign direct investment stood at $3.12 billion.

In April 2018, the outward foreign direct investment (OFDI) of Indian firms was $3.56 billion. Of the total investment by domestic firms in overseas ventures in May 2018, $374.18 million was in the form of equity infusion, $162.96 million in loan and $630.45 million as guarantee issuances, as per Reserve Bank data.

Among the major companies that made investment in their overseas subsidiaries/joint ventures included Indiabulls Real Estate $368.09 million, ONGC $57.94 million, Tata Hitachi Construction Machinery $26.62 million and Wadhawan Global Capital $15.23 million.

Cumulatively, the overseas direct investment in first two months (April-May) of this fiscal stood at $4.73 billion.

First Published: Jun 25, 2018 17:40 IST

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