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India Inc's foreign direct investment dips 63% to dollar 1.17 bn in May

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India Inc's foreign direct investment dips 63% to dollar 1.17 bn in May
In May 2017, India Inc's foreign direct investment stood at dollar 3.12 billion
Indian companies' investments into their overseas subsidiaries/joint ventures fell by 63 per cent to dollar 1.17 billion in May this year, according to RBI data.In May 2017, India Inc's foreign direct investment stood at dollar 3.12 billion.In April 2018, the outward foreign direct investment (OFDI) of Indian firms was dollar  3.56 billion.
Of the total investment by domestic firms in overseas ventures in May 2018, dollar 374.18 million was in the form of equity infusion, dollar 162.96 million in loan and dollar 630.45 million as guarantee issuances, as per Reserve Bank data.Among the major companies that made investment in their overseas subsidiaries/joint ventures included Indiabulls Real Estate dollar 368.09 million, ONGC dollar 57.94 million, Tata Hitachi Construction Machinery dollar 26.62 million and Wadhawan Global Captial USD 15.23 million.Cumulatively, the overseas direct investment in first two months (April-May) of this fiscal stood at dollar 4.73 billion.
The Economic Times, New Delhi, 26th June 2018

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