Economy

India Inc.’s FDI down over two times to $820 mn in June

Image for representation purpose only.

Image for representation purpose only.  

India Inc.’s foreign direct investment in June fell by over two times from a year ago to $820.36 million, data from the Reserve Bank of India (RBI) showed on July 10.

The outward foreign direct investment (OFDI) by the Indian firms stood at $2.29 billion in the year-ago same month, according to the RBI data on OFDI.

In May, the Indian firms had invested over $1.56 billion in their overseas ventures.

Of the total overseas direct investment during June, $340.28 million was in the form of equity infusion, $222.06 million was through loan and $258.02 million came in through issuance of guarantee.

Among the major investors included ONGC Videsh Ltd. $61.74 million in its various joint ventures in Myanmar, Russia and Vietnam; Asian Paints $43.45 million in a wholly-owned unit in Singapore and Alok Infrastructure $24 million in a wholly-owned subsidiary in the British Virgin Islands.

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Printable version | Feb 23, 2020 6:55:15 AM | https://www.thehindu.com/business/Economy/india-incs-fdi-down-over-two-times-to-820-mn-in-june/article28363515.ece

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