You are here: Home » Economy & Policy » News
Business Standard

Exports of foreign arms accounted for 33% of their total sales in FY20: RBI

Exports of foreign subsidiaries in India accounted for 32.6 per cent of their total sales in 2019-20, according to RBI

Topics
Exports | Reserve Bank of India | RBI

Press Trust of India  |  Mumbai 

imports, exports, retailers

of foreign subsidiaries in India accounted for 32.6 per cent of their total sales in 2019-20, according to

The on Thursday released the provisional results of the 2019-20 round of the annual census on foreign liabilities and assets (FLA) covering cross-border liabilities and assets of the entities with inward/outward direct investment.

These entities include companies, limited liability partnership (LLP), alternative investment fund (AIF) and partnership firms.

"Out of the 30,753 reported entities in the latest census round, 27,801 had foreign direct investment (FDI) and/or overseas direct investment (ODI) in their balance sheet," it said.

Of these entities, 22,881 had reported in the previous census round; 4,920 reported only in the current round and 2,128 entities, which reported in the previous round, did not report in the current round.

"of foreign subsidiaries in India accounted for 32.6 per cent of their total sales, while imports had 34.8 per cent share in their purchases during 2019-20," the said.

constituted nearly three-fourths of the sales of foreign subsidiaries in the information and communication services. This sector accounted for nearly half of the total exports by foreign subsidiaries.

It further said total FDI in India increased by 1.2 per cent at market value (in rupee terms) during 2019-20. The year-end market valuation of equity, especially that of the listed companies, was strongly influenced by the stock market crash in March 2020 at the onset of COVID-19 pandemic.

FDI equity of unlisted companies witnessed a 15.9 per cent growth during the same period, RBI said.

Total overseas direct investment recorded higher growth of 13.4 percent during 2019-20. The ratio of inward to outward direct investment at market value stood at 4.7 per cent in March 2020.

"Manufacturing sector share in total FDI equity capital stood at 45.5 per cent at face value and 52.3 per cent at market value," it said.

Food products and automobiles (motor vehicles, trailers and semi-trailers) had significant share in FDI in manufacturing sector. In the services sector, 'information and communication services' and 'financial and insurance activities' were the top FDI recipients.

As per the census, domestic sales, domestic purchases and exports of foreign subsidiaries in India recorded modest growth whereas their imports contracted during 2019-20.

RBI said the census captures detailed information on market value of liabilities and assets of Indian DI companies arising on account of cross-border direct investment and other investments; and other business parameters (activity sector, sales, purchase, exports and imports).

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, April 01 2021. 22:00 IST
RECOMMENDED FOR YOU
.