India's outward FDI down 50% in H1 2023 on grim global growth prospects

India’s outward Foreign Direct Investment (FDI) nosedived to $11.12 billion in January-June (H1 2023) from $23.57 billion in the same period last year, indicative of the slowdown in the global economy, according to the Reserve Bank of India (RBI) data.

The outward FDI expressed as the total financial commitment, has three components, namely equity, loan and guarantees.

The sharp contraction in the commitments (outward FDI) was prominent in the April-June 2023 period. 

They declined from $2.52 billion in April 2023 ($4.03 billion in April 2022) to $ 1.29 billion in May 2023 ($4.04 billion in May 2022) and was further