Business

India Inc’s overseas direct investment in June doubles at $2.8 billion

According to RBI data, foreign direct investment by domestic companies more than doubled to $2.80 billion in June this year.

India Inc invested $1.39 billion in overseas joint ventures last month. However, on a month-on-month basis, investment was 58% lower than it was at $6.71 billion in May 2021, according to RBI data on offshore investments by Indian companies.

Of the total investment capital in June 2021, USD 1.17 billion was in the form of guarantee issuance, USD 1.21 billion was loaned in the form of debt capital, while equity investment was USD 426.84 million. .

Among the major investors include Tata Steel 1 billion USD in a 100% owned subsidiary in Singapore; Wipro USD 787.5 million in a 100% US-owned unit; and Tata Power $131.25 million in a wholly owned unit in Mauritius. invest 56 million USD in agriculture and mining WOS in Singapore; Interglobe Enterprises invests $51.5 million in UK joint venture; ONGC Videsh Ltd USD 48.31 million in joint venture in Mozambique and Paharpur Cooling Tower USD 48 million in wholly owned subsidiary in Singapore.

Among them is 50 million USD to Tata Communications’ WOS in Singapore; ONGC Videsh invests 48.70 million USD in joint venture in Russia; and WNS . Global Service invested $45 million in a joint venture in the Netherlands.

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

https://economictimes.indiatimes.com/news/economy/indicators/india-incs-overseas-direct-investment-in-june-doubles-at-2-8-billion/articleshow/84520023.cms

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