♌Outward foreign direct investment by Indian companies fell by over 8 per cent to $2.05 billion in December 2021 in the current fiscal, data from the Reserve Bank of India (RBI) showed on Monday.
✱The domestic companies had invested $2.23 billion in their overseas joint ventures and fully-owned subsidiaries during December 2020 in the previous financial year.
𓃲Of the total investment made by the Indian companies overseas during the month, $1.22 billion was in the form of issuance of guarantees, $464.39 million was equity participation and $367.17 million investment was made through loans, as per the RBI data on Outward Foreign Direct Investment (OFDI) for December 2021.
🔯The major investors who infused capital in their overseas ventures 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 investment of $149.99 million in a joint-venture in the US.
𒐪Reliance New Energy Solar Ltd invested a total of $168.60 million in a JV and a wholly-owned subsidiary in Germany and Norway, while energy PSU Gail India infused $70.17 million in a joint-venture and a wholly-owned unit in Myanmar and the US.
🃏State-owned oil explorer ONGC invested $74.15 million in five different ventures in various countries during the month, as per the data.
