India’s overseas investment declines 58% in Oct: RBI

The Dollar Business Bureau

The overseas investments by Indian companies declined by around 58% to $1.35 billion in the month of October on year-on-year basis, according to the data by Reserve Bank of India (RBI).

In October last year, the total overseas foreign direct investment (FDI) by Indian firms was $3.2 billion. The investments were also recorded a decline on monthly basis, down from $2.65 billion in the month of September this year.

The major Indian investors include Ceres Estate, Indian Designs Exports, CG Power and Industrial Solutions, ONGC Videsh, OIL India, Gail (India), Cadila Pharmaceuticals, Cipla, Wipro Enterprises, Ramco Systems and Piramal Enterprises.

The country’s exports remained flat at $13.73 billion in the month of September compared to same month last year, while the imports into the country slightly picked up to $8.45 billion, as per the RBI data.

In September last year, the country exported services valuing $13.77 billion, whereas the imports of services stood at $8.30 billion.

During the period of April-September of this fiscal, the export of services from the country stood at $80.33 billion, while the services import was valued at $46.74 billion during the period.