Investments by Indian firms in foreign countries in January 2020 rose by nearly 40 per cent to $2.10 billion on a yearly basis, according to data by the Reserve Bank.
Indian companies had invested $1.47 billion in their overseas ventures in the same month a year ago.
Compared monthly, January investments were higher than $1.99 billion in December 2019, showed the RBI data on ‘Outward Foreign Direct Investment (OFDI)’.
Of the total capital invested by the India Inc in January this year, $793.82 million was in the form of equity capital, $368.55 came in as debt capital, while the rest $890.75 million was through the issuance of guarantee.
Among the major investors were Bharti Airtel Ltd which pumped in $247.5 million in its wholly owned subsidiary (WoS) in Mauritius; Serum Institute of India $226.07 million in a WoS in the Netherlands and Allcargo Logistics $88.08 million in a wholly owned unit in Belgium.