[ad_1]
Mumbai: Outward international direct funding by Indian corporations fell by over 8% to $2.05 billion in December 2021 within the present fiscal, information from the Reserve Financial institution of India (RBI) confirmed on Monday. The home corporations had invested $2.23 billion of their abroad joint ventures and fully-owned subsidiaries throughout December 2020 within the earlier monetary yr.
Of the full funding made by the Indian corporations abroad through the month, $1.22 billion was within the type of issuance of ensures, $464.39 million was fairness participation and $367.17 million funding was made by way of loans, as per the RBI information on Outward Overseas Direct Funding (OFDI) for December 2021.
The most important buyers who infused capital of their abroad ventures included ANI Applied sciences — the promoter of mobility options supplier Ola — which invested $675 million in its wholly-owned subsidiary in Singapore, and Dr Reddy’s funding of $149.99 million in a joint-venture within the US.
Reliance New Vitality Photo voltaic Ltd invested a complete of $168.60 million in a JV and wholly-owned subsidiary in Germany and Norway, whereas vitality 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 5 totally different ventures in varied international locations through the month, as per the info.
Additionally Learn:
ETAuto Analysis reveals that funding to Indian EV tech startups hit an all-time excessive in 2021, practically reaching USD 444 million (INR 3,307 crore) throughout greater than 25 offers, regardless of the pandemic fear, which is 255% increased than that of funds raised in 2020. Furthermore, that’s even 12% increased than the pre-pandemic yr 2019 when EV startups raised about USD 397 million.
[ad_2]
Source link
