India Inc's foreign investment declines over 50% to $1.11 billion in July

Outward Foreign Direct Investment, the domestic companies had invested over $2.56 billion in July 2021 in the form of equity, loan and issuances of guarantees

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.