Overseas investment of Indian corporates fell in February 2022
Overseas investment of Indian corporates fell 67 per cent to $753.61 million in February this year, according to the Reserve Bank of India (RBI) data
The central bank data showed that domestic investors had pumped in $2.28 billion in overseas ventures as part of the outward foreign direct investment (OFDI) in February 2021.
Of the total invested amount during the last month, $237.84 million was in the form of equity infusion, $230.06 million as loan and $285.72 million by way of issuance of guarantees, the data on foreign direct investment (FDI) for February 2022 showed.
Comparing month-on-month, the investment fell 56 per cent from $1.71 billion in January 2022.
ONGC Videsh Limited with $47 million investment in a joint venture in Russia and Titan with $29.5 million investment in a tie-up in UAE were among the top investors during the period under the review.