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India Inc’s outward direct investment plunges more than 8% to $ 2.05 billion in December 2021

Foreign direct investment abroad by Indian companies fell more than 8% to $ 2.05 billion in December 2021 in the current fiscal year, data from the Reserve Bank of India showed on Monday ( RBI). Domestic companies had invested $ 2.23 billion in their overseas joint ventures and wholly-owned subsidiaries as of December 2020 in the previous fiscal year.

Of the total investments made by Indian companies abroad during the month, $ 1.22 billion was in the form of issuance of guarantees, $ 464.39 million was in equity and $ 367.17 million in The investments were made through loans, according to RBI overseas data. Direct Investment (OFDI) for December 2021.
Major investors who injected capital into their overseas businesses included ANI Technologies – the promoter of mobility solutions provider Ola – which has invested $ 675 million in its wholly-owned subsidiary in Singapore, and the investment of Dr. Reddy’s $ 149.99 million joint venture. venture into the United States.
Reliance New Energy Solar Ltd invested a total of $ 168.60 million in a joint venture and a wholly-owned subsidiary in Germany and Norway, while the energy PSU Gail India injected $ 70.17 million into a joint venture and a 100% unit in Myanmar and in the US.
State-owned oil company ONGC invested $ 74.15 million in five different companies in various countries during the month, the data showed.

First publication: STI


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