New Delhi–The outward foreign direct investment (investment made into other countries) by India Inc dropped by 57.3 per cent in January 2017 to $1.82 billion as compared to $4.25 billion in the same month in 2016, the Reserve Bank of India (RBI) data showed on Monday.
The outward FDI also dropped as compared to $2.45 billion in December 2016.
In January this year, out of $1.82 billion, $246.37 million came from equity, $483.78 million from loans and $1.09 billion from guarantee issued.
Among the major investors were Bharat Petrosources, which made an investment of $721.42 million in Australia and Singapore in the agriculture and mining sectors.
Reliance Industries invested $40 million through its subsidiary Reliance Global Energy Services Singapore.
ONGC Videsh invested $52.59 million in Myanmar, Russia and Vietnam while Intas Pharmaceuticals invested $344.35 million in the UK.