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Current Affairs

Indian firms foreign investment rises 18% to $2.69 billion in March 2019: RBI

Date: 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.