Indian firms foreign investment rises 18% to $2.69 billion in March 2019: RBIDate: 12 April 2019 Tags: Basics of Economics
According to Reserve Bank of India (RBI) data on outward foreign direct investment, Indian companies' foreign investment abroad grew 18% to $2.69 billion in March 2019 as compared to the year-ago period. The domestic firms had made investment of $2.28 billion in their subsidiaries and wholly-owned units abroad during March 2018. In February 2019, investment by Indian firms was $1.71 billion,
March 2019 Outward investments
- Of the total investment overseas in March 2019, US $1.68 billion was in form of loan, $564.97 million as equity while rest $443.71 million was in the form of issuance of guarantee.
- Major investors included Tata Steel, which invested $1.15 billion in its subsidiary in Singapore.
- It was followed by JSW Cement with $82 million investment in its wholly-owned subsidiary in the UAE,
- IONGC Videsh Ltd also made investment worth $70.37 million in various joint ventures in Myanmar, Russia and Vietnam.