India Inc's FDI down over two times in June

New Delhi: 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 showed Wednesday. 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 USD 258.02 million came in through issuance of guarantee. Among the major investors included Oil and Natural Gas Corporation (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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