INSUBCONTINENT EXCLUSIVE:
Abroad direct financial investment by Indian business slid in December 2021Mumbai: Outside foreign direct investment (FDI) by Indian
companies plunged over 8 per cent to $2.05 billion in December 2021, according to information released by Reserve Bank of India (RBI)
Domestic companies invested $2.23 billion in their abroad joint ventures and fully-owned subsidiaries during December 2020
Out of the total investment made by Indian entities overseas during the month, $1.22 billion remained in the kind of issuance of warranties,
$464.39 million was equity participation and $367.17 million investment was made through loans, the RBI data said.Major investors who
infused capital in their abroad ventures consisted of ANI Technologies - the promoter of mobility services company 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.Reliance New
Energy Solar Limited invested $168.60 million in a joint endeavor and wholly-owned subsidiary in Germany and Norway, while state-owned GAIL
put in $70.17 million in a joint-venture and a wholly-owned unit in Myanmar and the US.Another Maharatna company ONGC invested $74.15
million in five different endeavors in numerous countries throughout the month, based on RBI information.
