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.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in