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India Inc's foreign investment rose over two-times to $2.51 billion in April: RBI

Indian investors had committed $1.21 billion worth of outward foreign direct investment (OFDI) in April 2020

twitter-logoPTI | May 18, 2021 | Updated 07:48 IST
India Inc's foreign investment rose over two-times to $2.51 billion in April: RBI

India Inc's foreign investment in the first month of this current fiscal jumped by more than two-times year-on-year to $2.51 billion, data from the Reserve Bank showed on Monday.

Indian investors had committed $1.21 billion worth of outward foreign direct investment (OFDI) in April 2020.

Of the total commitment of $2.51 billion in April this year by the Indian company owners, $1.75 billion was in the form of loan, $421.42 million as equity capital and $333.11 million was chipped in through issuance of guarantee, showed the RBI data on OFDI for the month of April 2021.

In March 2021, Indian firms made investment of over 1.99 billion in their overseas ventures.

Among the major investors, Tata Steel invested $1 billion in its wholly owned subsidiary in Singapore, Interglobe Enterprises Pvt Ltd invested $145.61 million in a joint venture based in the UK and Reliance Industrial Investments & Holdings Ltd committed $78.52 million in a fully owned unit in the UK.

Reliance Industries alongside Reliance Brands invested a sum of $91.56 million in various wholly owned subsidiaries and joint ventures based in the UK, Singapore, the UAE and the USA.

Varroc Engineering put in $65.5 million in a wholly owned unit in the Netherlands and Motherson Sumi Systems invested $41.70 million in a fully owned firm in the UAE, showed the data.

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

Also read: Demand shock biggest toll of COVID wave II, loss of momentum less severe than 2020: RBI

Also read: NBFCs remain resilient; COVID impact to manifest over time: RBI

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