India Inc’s abroad direct funding dips over 8% to $2.05 billion in Dec 2021

Outward international direct funding by Indian firms fell by over 8 per cent to USD 2.05 billion in December 2021 within the present fiscal, knowledge from the Reserve Financial institution of India (RBI) confirmed on Monday.

The home firms had invested USD 2.23 billion of their abroad joint ventures and fully-owned subsidiaries throughout December 2020 within the earlier monetary yr.

Of the overall funding made by the Indian firms abroad in the course of the month, USD 1.22 billion was within the type of issuance of ensures, USD 464.39 million was fairness participation and USD 367.17 million funding was made by loans, as per the RBI knowledge on Outward International Direct Funding (OFDI) for December 2021.

The foremost buyers who infused capital of their abroad ventures included ANI Applied sciences — the promoter of mobility options supplier Ola — which invested USD 675 million in its wholly-owned subsidiary in Singapore, and Dr Reddy’s funding of USD 149.99 million in a joint-venture within the US.

Reliance New Power Photo voltaic Ltd invested a complete of USD 168.60 million in a JV and wholly-owned subsidiary in Germany and Norway, whereas power 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 totally different ventures in numerous nations in the course of the month, as per the info.

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