Overseas direct investment of domestic companies more than double in June

 The overseas direct investment of domestic companies more than doubled to $ 2.8 billion in June 2021, as per the Reserve Bank of India (RBI) data on outward investments by Indian firms.

Of the total investment during June 2021, $ 1.17 billion was in the form of issuance of guarantee.

Of the total investment during June 2021, $ 1.21 billion was given as loan.

Equity investment stood at $ 426.84 million in June 2021 from Indian companies. 

Among the major investors included Tata Steel $ 1 billion in a wholly owned subsidiary in Singapore; Wipro $ 787.5 million in a wholly owned unit in the US; and Tata Power $ 131.25 million in a fully owned unit in Mauritius.