Data from India’s central bank, shows that outward foreign investment in the first month of this current fiscal year (April 2021) increased by more than two-times year-on-year to $2.51 billion. Of this amount, $1.75 billion was in the form of loans, $421 million was equity capital, and $333 million was allocated to the issuance of guarantees. In April 2020, Indian investors had committed $1.21 billion worth of outward foreign direct investment, according the Reserve Bank of India.
In March 2021, Indian firms made investments of over $1.99 billion in their overseas ventures.
Among the major investors, Tata Steel invested $1 billion in its wholly owned subsidiary in Singapore, Interglobe Enterprises Pvt Ltd. invested $145 million in a joint venture based in the U.K., and Reliance Industrial Investments & Holdings Ltd. committed $78 million in a fully owned unit in the U.K. Reliance Industries’ subsidiary Reliance Brands invested $91 million in various wholly owned subsidiaries and joint ventures based in the U.K., Singapore, the UAE and the U.S. Varroc Engineering invested $65 million in a wholly owned unit in the Netherlands, while Motherson Sumi Systems invested $41.70 million in a fully owned firm in the UAE.
The central bank added that the data is provisional and is subject to change based on the online reporting by its authorized dealer banks.
