India’s FDI drops by 64% in June 2019
According to the latest data released by the Reserve Bank of India (RBI), India Inc.’s foreign direct investment (FDI) in June’19 tumbled by 64% YoY to reach US$820.36 million. Outward FDI by the Indian companies stood at US$ 2.29 billion in June’18.
Of the total overseas direct investment during June’19, US$ 340.28 million was in the form of equity infusion, US$ 222.06 million was through loans and US$258.02 million came in through issuance of guarantee. ONGC Videsh Ltd. (which invested US$ 61.74 million in Myanmar, Russia and Vietnam), Asian Paints (which invested US$ 43.45 million in Singapore) and Alok Infrastructure (which invested US$ 24 million in British Virgin Islands) were the major investors for this period. In May’19, Indian firms had invested over US$ 1.56 billion in their international ventures.