India's outward FDI in June swells to $5 billion, shows RBI data

Singapore top FDI destination in Apr-June

India’s outward foreign direct investment (FDI) in June grew to $5.03 billion on a year-on-year basis, up from $2.9 billion in the same month last year.

 

Sequentially, it nearly doubled from $2.7 billion in May, according to the data from the Reserve Bank of India (RBI).

 

Outbound FDI, expressed as a financial commitment, has three components. They are equity, loans, and guarantees.

 

The RBI data showed equity commitments rose more than three-fold to $2.04 billion in June as against $670.7 million in June last year and doubled from $987.1 million in May.

 

 

 

Loan commitments increased marginally to $585.55 million in June, up from $454.3 million in June last year. They were lower than the $1.02 billion in May.

 

Guarantees for overseas units moved up to $2.40 billion in June from $1.8 billion a year ago and $692.2 billion in May, the RBI data showed.

 

The RBI’s entity-specific data showed Aster DM Healthcare had committed $907.6 million as guarantees for Mauritius-based Affinity Holdings, and state-owned Indian Oil Corporation has committed guarantees worth $294.99 million for its Netherlands-based wholly-owned subsidiary (WOS) Indoil Global BV.

 

Integris Health has committed equity worth $371.5 million for its WOS Everlife Holdings.

 

The National Stock Exchange (NSE) has committed $329.2 million for NSE IFSC Ltd, GIFT City-based wholly owned subsidiary with a guarantee component of $300 million and equity component of $29.3 million.

 

Meanwhile, outbound FDI touched $6.64 billion in April-June this year with an equity component of $4.3 billion and a loan component of $2.34 billion.

 

Singapore, with $2.21 billion, emerged as the top destination for Indian FDI commitments, followed by Mauritius and the United States with $1 billion each.

 

FDI commitments for the United Arab Emirates stood at $450.5 million and Germany’s was $345.65 million in April-June, the RBI data showed.