India's outward FDI rises to $3.91 billion in March, shows RBI data

India’s outward foreign direct investment (FDI) commitments rose significantly to $3.91 billion in March 2024, compared to $2.63 billion in March 2023. Sequentially, they were also higher than $3.67 billion in February 2024, according to Reserve Bank of India (RBI) data.

Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees. The equity commitments grew more than twofold to $2.03 billion in March 2024 from $758.22 million in March 2023. It was also higher than the $616.46 million recorded in February 2024.

Debt commitments almost doubled to $1.04 billion in March 2024, from $517.98 million a year ago. However, it was much higher than $254.24 million in February 2024. Guarantees for overseas units declined to $839.16 million in March 2024 from $1.36 billion in March 2023. They were down substantially compared to $2.80 billion in February 2024, RBI data showed.