India’s foreign direct investment fell 31% to $ 1.85 billion in February

Data from the Reserve Bank of India showed that India Inc’s direct investment fell 31% to $ 1.85 billion in February this year.

Local companies invested $ 2.66 billion in foreign companies and joint ventures last month, February 2020.

Of the total investment made by Indian companies in foreign markets, $ 1.36 billion has been loaned; $ 297.37 million was taken in capital investment and the remaining $ 183.82 million was raised through collateral, according to RBI data released by Foreign Direct Investment – February 2021.

However, total foreign direct investment issued by domestic companies in February was higher than $ 1.19 billion in January 2021.

Among the major companies that invested in their overseas projects during the month were Tata Steel ($ 1 billion at its wholly owned subsidiary in Singapore) and Sun Pharmaceutical – $ 100 million in a joint venture in the United States.

ONGC Videsh Ltd has invested a total of $ 96.15 million in various joint ventures / wholly owned subsidiaries in Russia, Mozambique, Myanmar, Sudan, Colombia, Vietnam and Azerbaijan.

JSW Steel made a joint investment of $ 62.85 million in three WoS / JV companies in the Netherlands and the United States.

GMM Pfaudler Ltd, a manufacturer of pharmaceutical equipment, made $ 45.33 million for its Luxembourg joint venture; Indian hotel company $ 33 million in Dutch project. L&T Hydrocarbon Engineering invested $ 37.55 million in a joint venture in Saudi Arabia and Millars Concrete Technologies invested $ 34.26 million in a joint venture in Luxembourg.

The Reserve Bank of India said the data is preliminary and subject to change based on online reports from banks.