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The Reserve Bank of India (RBI) in its latest data has showed that India Inc's foreign investment in the first month of current fiscal (FY22) jumped by more than two-times year-on-year to $2.51 billion. Indian investors had committed $1.21 billion worth of outward foreign direct investment (OFDI) in April 2020.

The RBI data on OFDI for the month of April 2021 showed that of the total commitment of $2.51 billion in April this year by the Indian company owners, $1.75 billion was in the form of loan, $421.42 million as equity capital and $333.11 million was chipped in through issuance of guarantee. In March 2021, Indian firms made investment of over 1.99 billion in their overseas ventures.

Among the major investors, Tata Steel invested $1 billion in its wholly owned subsidiary in Singapore, Interglobe Enterprises invested $145.61 million in a joint venture based in the UK and Reliance Industrial Investments & Holdings committed $78.52 million in a fully owned unit in the UK.

As per the data, Reliance Industries alongside Reliance Brands invested a sum of $91.56 million in various wholly owned subsidiaries and joint ventures based in the UK, Singapore, the UAE and the USA. Varroc Engineering put in $65.5 million in a wholly owned unit in the Netherlands and Motherson Sumi Systems invested $41.70 million in a fully owned firm in the UAE.