Indian cos' investment in overseas JVs, arms at $7.06 bln Mar, up 138% MoM
This story was originally published at 15:14 IST on 20 April 2026
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MUMBAI – Foreign direct investment by Indian companies in their overseas joint ventures and subsidiaries rose over 138% on month to $7.06 billion in March, according to data released by the Reserve Bank of India Monday. Outward foreign direct investment by Indian companies was $2.97 billion in February and $5.54 billion in March 2025.
Companies issued $4.91 billion worth of guarantees for their overseas arms and joint ventures in March, up a whopping 356% from $1.08 billion a month ago. Tata Motors Ltd. led the sharp month-on-month rise by issuing a $2.26-billion guarantee for its wholly-owned subsidiary TML CV Holdings Pte. Ltd. in Singapore. Renew Pvt. Ltd. issued the second-largest guarantee in March, at $660 million for its wholly-owned arm Renew Treasury IFSC Pvt. Ltd. in IFSC GIFT City. Jindal Power Ltd. was next, issuing a $558.25-million guarantee for its arm Jindal Power (Mauritius) Ltd.
Of the total overseas investments in March, companies invested $1.48 billion as equity, higher than $1.15 billion invested the previous month. Companies committed nearly $692 million in loans in March, down from $741.16 million in February.
The data, based on online reporting by authorised dealer banks, is provisional and subject to change, the RBI said. End
US$1 = INR 93.09
Reported by Diksha Tripathy and Cassandra Carvalho
Edited by Avishek Dutta
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