Investments by India Inc. in its overseas projects fell 59 percent on an annual basis to $1.03 billion in August this year, Reserve Bank data showed on Friday. RBI data on Outward Foreign Direct Investment (OFDI) for August 2022 showed that the total financial exposure of domestic firms in August 2022-23 was $1,027.67 million. In the same month of 2021-22, it stood at $2,500.97 million ($2.5 billion). In the previous month of July 2022, financial investments by Indian companies abroad amounted to US$1,116.69 million (US$1.12 billion).

Of the total investments in August of this fiscal year, the highest was in the form of capital injections at $585.65 million. While $266.63 million was infused through the issuance of guarantees, the remaining $175.39 million was provided through loans. The RBI said the data is preliminary and subject to change based on online reports from Authorized Dealer Banks (AD).

Among the major investors, Lenskart Solutions has contributed equity of US$319.99 million to its wholly owned subsidiary in Singapore, while Glenmark Pharmaceuticals has invested US$100 million in a wholly owned subsidiary in Switzerland through the issuance of a guarantee. Hasham Traders Data Stax Inc has loaned $54.69 million to a US joint venture and CitiusTech Healthcare has invested $30 million in a wholly owned US entity through guarantees. Adani Ports and Special Economic Zone invested $25.58 million in a wholly-owned entity in Singapore through a mix of lending and guaranteeing, RBI data showed.

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