India Inc’s outward FDI halves to $1.93 billion in March: RBI knowledge

India Inc’s outward international direct funding in March 2021 practically halved to USD 1.93 billion (round Rs 14,495 crore), in line with the RBI knowledge.
Domestic corporations had invested USD 3.86 billion as outward international direct funding (OFDI) within the year-ago month of March 2020.
In the previous month (February 2021), the OFDI stood practically the identical at USD 1.95 billion.

Of the whole funding dedicated by the Indian buyers of their international joint ventures/wholly owned subsidiaries in March this yr, USD 1.15 billion was within the type of issuance of ensures.
Rest of USD 413.25 million was within the type of mortgage and USD 363.54 million was by fairness capital, the info confirmed.
The main buyers had been telecom main Bharti Airtel Ltd USD 750 million in an entirely owned unit in Mauritius; pharma agency Lupin Ltd USD 250 million in a JV within the US, SRF Ltd USD 83.83 million in an entirely owned subsidiary (WoS) within the Netherlands.

Mahindra & Mahindra invested USD 84.52 million in WoS in Mauritius and The Indian Hotels Co Ltd USD 59.59 million in its wholly owned subsidiary within the Netherlands.
The RBI stated the info is provisional and topic to alter based mostly on the web reporting by the authorised supplier (AD) banks.