Outward foreign direct investment (FDI) by Indian companies fell by more than 8 percent to $2.05 billion in December 2021, according to data released by Reserve Bank of India (RBI).
Domestic companies invested $2.23 billion in their overseas joint ventures and wholly owned subsidiaries in December 2020.
Of the total investments made by Indian entities abroad during the month, $1.22 billion was in the form of guarantees, $464.39 million was equity participation, and $367.17 million was invested through loans, according to the RBI data.
Major investors who have put capital into their overseas ventures have included ANI Technologies – the promoter of mobility solutions provider Ola – which invested $675 million in its wholly owned subsidiary in Singapore and Dr. Reddy’s $149.99 million investment in a US joint venture
Reliance New Energy Solar Limited invested $168.60 million in a joint venture and wholly-owned subsidiary in Germany and Norway, while state-owned GAIL invested $70.17 million in a joint venture and wholly-owned unit in Myanmar and the US.
Another Maharatna firm, ONGC, invested $74.15 million in five different ventures in different countries during the month, according to RBI data.