In a report released by the Reserve Bank of India (RBI) today, it has been revealed that direct investments made overseas by Indian companies has declined by 57.3% in January 2017. Overseas FDI by Indian companies in January 2017 was only $ 1.82 billion. The corresponding figure for January 2016 was $4.25 billion. The overseas FDI for January 2017 is even lower than the figures of December’s $2.49 billion.
The RBI report also provided details about the overseas FDI in January 2017. Of the total direct investment of $1.82 billion, $246.37 million investment was made in the form of equity money; $483.78 million was in the form of loans; and the remaining $1.09 billion comprised of the guarantee issued by Indian firms in their overseas units.
As per the RBI report, the top overseas FDI investor in January 2017 was Bharat Petrosources that invested $721.42 million in four installments in a joint venture and wholly-owned subsidiary, operational in Singapore and Australia. Next was Intas Pharmaceuticals that invested $344.35 million in its fully owned unit in the UK. ONGC Videsh came in next by investing $52.59 million in four different joint ventures in Myanmar, Russia and Vietnam. An investment of $40 million was made by Reliance Industries in its wholly owned energy services unit in Singapore.