New Delhi: The overseas direct investment of India Inc dropped by 59% on an annual basis in August this year. The overseas direct investment of India Inc is at $1.03 billion in August. Data released by the Reserve Bank of India (RBI) revealed this.
According to the data, Outward Foreign Direct Investment (OFDI) for August 2022 is at $1,027.67 million. It was at $2,500.97 million ($2.5 billion) in August last year. In July 2022, Indian businesses’ overseas financial investment was $1,116.69 million.
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Of the total investment during August this fiscal, the highest was in the form of equity infusion at $585.65 million. While $266.63 million was infused by way of issuance of guarantees, the rest $175.39 million was through loans.
Lenskart Solutions was the biggest investor. The company infused equity worth $319.99 million in its wholly-owned subsidiary in Singapore, while Glenmark Pharmaceuticals invested $100 million in a fully-owned subsidiary in Switzerland. Hasham Traders Data Stax Inc loaned $54.69 million to a joint venture in the US and CitiusTech Healthcare invested $30 million in a fully-owned unit in the US through guarantees. Adani Ports and Special Economic Zone invested $25.58 million through a mix of loan and guarantee issuance in a wholly-owned unit in Singapore.
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