India Inc’s foreign direct investment in July declined over 50 per cent to USD 1.11 billion in July 2022, the Reserve Bank data showed.
As per the RBI data, on Outward Foreign Direct Investment (OFDI), the domestic companies had invested over USD 2.56 billion in July 2021 in the form of equity, loan and issuances of guarantees.
In a breakup, the Indian businesses invested USD 579.15 million by equity infusion, USD 193.21 million as loans and USD 337.49 million infused by issuing guarantees to their overseas ventures during July 2022.
Among the major investors included Reliance Industries USD 160 million in its wholly-owned energy subsidiary in Singapore, Reliance Industrial Investments & Holdings USD 40.74 million in the fully-owned unit in retail business in the UK, and Ravindra Energy putting USD 33 million in its fully-owned unit in the UAE.
Hasham Traders invested USD 32.71 million in a joint venture in the US, which is into financial services.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
GIPHY App Key not set. Please check settings