India Inc's FDI drops by 57% in January

The outward foreign direct investment (investment made into other countries) by India Inc dropped by 57.3 per cent in January 2017 to $1.82 billion as compared to $4.25 billion in the same month in 2016, the Reserve Bank of India (RBI) data showed on Monday.

The outward FDI also dropped as compared to $2.45 billion in December 2016.

In January this year, out of $1.82 billion, $246.37 million came from equity, $483.78 million from loans and $1.09 billion from guarantee issued.

Among the major investors were Bharat Petrosources, which made an investment of $721.42 million in Australia and Singapore in the agriculture and mining sectors.

Reliance Industries invested $40 million through its subsidiary Reliance Global Energy Services Singapore.

ONGC Videsh invested $52.59 million in Myanmar, Russia and Vietnam while Intas Pharmaceuticals invested $344.35 million in the UK.

--IANS

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