India Inc's overseas direct investment in June doubles to $2.8 bn: RBI data

India Inc's overseas direct investment in June doubles to $2.8 bn: RBI data

PTIUpdated: Sunday, July 18, 2021, 05:40 PM IST
article-image
Of the total investment during June 2021, USD 1.17 billion was in the form of issuance of guarantee, USD 1.21 billion was given as loan, while the equity investment stood at USD 426.84 million. |

The overseas direct investment of domestic companies more than doubled to USD 2.80 billion in June this year, according to RBI data.

India Inc had invested USD 1.39 billion in overseas ventures in the year-ago month. However, on a month-on-month basis, the investment was lower by over 58 per cent from USD 6.71 billion in May 2021, as per the RBI data on outward investments by Indian firms.

Of the total investment during June 2021, USD 1.17 billion was in the form of issuance of guarantee, USD 1.21 billion was given as loan, while the equity investment stood at USD 426.84 million.

Among the major investors included Tata Steel USD 1 billion in a wholly owned subsidiary in Singapore; Wipro USD 787.5 million in a wholly owned unit in the US; and Tata Power USD 131.25 million in a fully owned unit in Mauritius.

Reliance Industries invested USD 56 million in agriculture and mining based WOS in Singapore; Interglobe Enterprises invested USD 51.5 million in a joint venture in the UK; ONGC Videsh Ltd USD 48.31 million in a JV in Mozambique and Paharpur Cooling Towers USD 48 million in a wholly owned subsidiary in Singapore.

Among others were Tata Communications' USD 50 million in WOS in Singapore; ONGC Videsh invested USD 48.70 million in a JV in Russia; and WNS Global Services invested USD 45 million in a JV in the Netherlands.

The RBI said the data is provisional and subject to change on online based reporting by the authorised dealer banks.

RECENT STORIES

Renault Duster and Nissan SUV Teasers Released, Set To Debut In India In 2025

Renault Duster and Nissan SUV Teasers Released, Set To Debut In India In 2025

Maruti Suzuki India Announces Major Senior Management Reshuffle

Maruti Suzuki India Announces Major Senior Management Reshuffle

Citroen Reveals Basalt Vision Coupe SUV Concept, Set For India Launch This Year

Citroen Reveals Basalt Vision Coupe SUV Concept, Set For India Launch This Year

Baltimore Port Gridlock: Francis Scott Key Bridge Collapse Triggers Trade Crisis; Disrupting Coal,...

Baltimore Port Gridlock: Francis Scott Key Bridge Collapse Triggers Trade Crisis; Disrupting Coal,...

Free Premium Features For X Users With More Than 2500 Verified Subscribers: Elon Musk

Free Premium Features For X Users With More Than 2500 Verified Subscribers: Elon Musk