World Economy

Indian Firms’ FDI Doubles

Indian Firms’ FDI DoublesIndian Firms’ FDI Doubles

Indian companies’ foreign direct investment in March in their overseas ventures more than doubled to $2.99 billion, according to data released by the Reserve Bank of India on Tuesday, PTI reported. During the same month last year, Indian firms had invested a total of $1.42 billion into their overseas joint ventures or subsidiaries. The March 2017 overseas investments were much higher than those in February at $867.53 million, the RBI said. These investments came in the form of equities totaling $1.99 billion, loans of $742.60 million and issue of guarantees worth $251.40 million. The major investors include Bharti Airtel with $765.20 million, Tata International at $179.22 million, and state-run ONGC Videsh investing $75.49 million.

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