Outward overseas direct investment by Indian firms fell by over 8 per cent to USD 2.05 billion in December 2021 in the present fiscal, information from the Reserve Bank of India (RBI) confirmed on Monday.
The home firms had invested USD 2.23 billion in their overseas joint ventures and fully-owned subsidiaries throughout December 2020 in the earlier monetary yr.
Of the overall investment made by the Indian firms overseas in the course of the month, USD 1.22 billion was in the type of issuance of ensures, USD 464.39 million was fairness participation and USD 367.17 million investment was made by way of loans, as per the RBI information on Outward Foreign Direct Investment (OFDI) for December 2021.
The main traders who infused capital in their overseas ventures included ANI Technologies — the promoter of mobility options supplier Ola — which invested USD 675 million in its wholly-owned subsidiary in Singapore, and Dr Reddy’s investment of USD 149.99 million in a joint-venture in the US.
Reliance New Energy Solar Ltd invested a complete of USD 168.60 million in a JV and wholly-owned subsidiary in (*21*) and Norway, whereas vitality PSU Gail India infused USD 70.17 million in a joint-venture and a wholly-owned unit in Myanmar and the US.
State-owned oil explorer ONGC invested USD 74.15 million in 5 completely different ventures in numerous nations in the course of the month, as per the information.
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