India Inc’s outward FDI halves to $1.93 billion in March

India Inc’s outward foreign direct investment in March 2021 nearly halved to USD 1.93 billion (around Rs 14,495 crore), according to the RBI data.

Domestic firms had invested USD 3.86 billion as outward foreign direct investment (OFDI) in the year-ago month of March 2020.

In the preceding month (February 2021), the OFDI stood nearly the same at USD 1.95 billion.

Of the total investment committed by the Indian investors in their foreign joint ventures/wholly owned subsidiaries in March this year, USD 1.15 billion was in the form of issuance of guarantees.