Annually, India Inc’s Investment in its overseas ventures dropped by 59% to $1.03 billion in August 2022, the Reserve Bank of India data showed on Friday. For August 2022, the RBI data on an Outward Foreign Direct Investment (OFDI) showed that the total financial commitment incurred by the domestic firms was estimating $1,027.67 Million from August 2022-23.

In the same month of 2021-22, it stood at $2,500.97 million, i.e. $2.5 billion. In the preceding month of July 2022, Indian businesses’ overseas venture financial investment was estimated at $1,116.69 million, i.e. $1.12 billion. Of the total investment during August 2022 fiscal, the highest result was in the form of equity infusion at $585.65 million. While $266.63 million was infused by the process of issuance of guarantees, the rest of $175.39 million was infused through loans. RBI said that the data is provisional and subject to change based on online reporting by Authorised Dealer (AD) banks.

Counting among the major investors, Lenskart Solutions infused the equity worth $319.99 million considering its wholly-owned subsidiary in Singapore. In contrast, Glenmark Pharmaceuticals invested $100 million in the fully-owned subsidiary in Switzerland via guarantee issuance.

Hasham Traders Data Stax Inc’s loaned $54.69 million to a joint venture in the US, whereas CitiusTech Healthcare invested $30 million in a fully-owned unit in the US through assurances. The RBI data reported that Adani Ports and Special Economic Zone (SEZ) invested $25.58 million through a loan mixture and guarantee issuance in a wholly-owned unit in Singapore.