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

Economy


MUMBAI: India Inc‘s foreign direct investment in June fell by over two times from a year ago to USD 820.36 million, data from the Reserve Bank of India showed Wednesday. The outward foreign direct investment (OFDI) by the Indian firms stood at USD 2.29 billion in the year-ago same month, according to the RBI data on OFDI.

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

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

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



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