Indians invested $43.92 Billion overseas in 2010-11
Thursday, 23 June 2011, 02:16 IST
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Indians invested $43.92 Billion overseas in 2010-11
Mumbai: Foreign direct investment outflow from India more than doubled to $43.92 billion in 2010-11 as compared to $17.98 billion in the previous year on the back of increased loan and guarantee issued by Indian firms, official data showed. Indian companies and individuals invested $9.35 billion in equity during the last financial year and extended $7.34 billion loans overseas, according to data released by the Reserve Bank of India (RBI) Wednesday. Loan guarantee issued by Indians rose sharply to $27.23 billion in 2010-11 from $7.60 billion in the previous year. In the first two months of the current fiscal, the total outflow was $5.09 billion. It included $731.41 million of equity investment. The RBI said it would put the data on overseas direct investment in the public domain on a monthly basis beginning July. The initiative has been taken as part of the endeavour of the RBI and the government for wider dissemination of information and bringing about more transparency as the joint ventures and wholly-owned subsidiaries have been perceived as an effective medium of economic cooperation between India and other countries, the RBI said in a statement.
Source: IANS