India Inc's foreign investment jumps 40% to USD 2.10 bn in January

Mumbai: Investments by Indian firms in foreign countries in January 2020 rose by nearly 40 per cent to USD 2.10 billion on a yearly basis, according to data by the Reserve Bank.

Indian companies had invested USD 1.47 billion in their overseas ventures in the same month a year ago.

Compared monthly, January investments were higher than USD 1.99 billion in December 2019, showed the RBI data on ‘Outward Foreign Direct Investment (OFDI).’

Of the total capital invested by the India Inc in January this year, USD 793.82 million was in the form of equity capital, USD 368.55 came in as debt capital, while the rest USD 890.75 million was through the issuance of guarantee.

Among the major investors were Bharti Airtel Ltd which pumped in USD 247.5 million in its wholly-owned subsidiary (WoS) in Mauritius; Serum Institute of India USD 226.07 million in a WoS in the Netherlands and Allcargo Logistics USD 88.08 million in a wholly-owned unit in Belgium.