Indian firms invest $2.37 bn overseas in Feb

Mumbai:  Overseas investment by domestic firms stood at USD 2.37 billion in February 2020, as per RBI data.

In the year-ago same period, companies in India invested USD 2.36 billion. In January 2020, domestic companies invested USD 2.23 billion in their foreign firms (joint ventures/wholly-owned units).

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Of the total investments in February this year, USD 1.16 billion was in the form of loans, USD 670.17 million was by way of issuance of guarantee while the rest USD 538.70 million was invested through equity, according to the data on Outward Foreign Direct Investment (OFDI) for last month.

Among the major investors, Bharti Airtel infused USD 978.92 million in a wholly-owned subsidiary in Mauritius, Tata Steel invested USD 162.19 million in a subsidiary in Singapore and Tata International pumped USD 112.99 million into a wholly-owned arm in Singapore.

Calleis Infrastructure invested USD 81.12 million in a wholly-owned subsidiary in the UK.

(PTI)