Among the major companies investing in its overseas projects this month are Tata Steel and Sun Pharmaceutical
Data from the Reserve Bank of India showed that India Inc’s direct investment fell 31% to $ 1.85 billion in February this year.
Local companies invested $ 2.66 billion in foreign companies and joint ventures last month, February 2020.
Of the total investment made by Indian companies in foreign markets, $ 1.36 billion has been loaned; $ 297.37 million was taken in capital investment and the remaining $ 183.82 million was raised through collateral, according to RBI data released by Foreign Direct Investment – February 2021.
However, total foreign direct investment issued by domestic companies in February was higher than $ 1.19 billion in January 2021.
Among the major companies that invested in their overseas projects during the month were Tata Steel ($ 1 billion at its wholly owned subsidiary in Singapore) and Sun Pharmaceutical – $ 100 million in a joint venture in the United States.
ONGC Videsh Ltd has invested a total of $ 96.15 million in various joint ventures / wholly owned subsidiaries in Russia, Mozambique, Myanmar, Sudan, Colombia, Vietnam and Azerbaijan.
JSW Steel made a joint investment of $ 62.85 million in three WoS / JV companies in the Netherlands and the United States.
GMM Pfaudler Ltd, a manufacturer of pharmaceutical equipment, made $ 45.33 million for its Luxembourg joint venture; Indian hotel company $ 33 million in Dutch project. L&T Hydrocarbon Engineering invested $ 37.55 million in a joint venture in Saudi Arabia and Millars Concrete Technologies invested $ 34.26 million in a joint venture in Luxembourg.
The Reserve Bank of India said the data is preliminary and subject to change based on online reports from banks.