New Delhi: India’s outward foreign direct investment (OFDI), or overseas direct investment, declined by 39 per cent to $28.64 billion in the year ended March 2024. Data released by the Reserve Bank of India (RBI) revealed this. As per data, outward FDI stood at $46.96 billion the year ended March 2023.
Outbound FDI is expressed as a financial commitment. It comprises three components — equity, loans, and guarantees.
Of the total overseas direct investment, commitments through the equity route stood at $9.62 billion in fiscal 2024, compared to $19.13 billion in FY2023. The equity contributed around 34 per cent of the total financial commitment made in FY2024.
Meanwhile, India’s outward foreign direct investment (FDI) commitments rose significantly to $3.91 billion in March 2024, compared to $2.63 billion in March 2023. Sequentially, they were also higher than $3.67 billion in February 2024.
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The equity commitments grew more than twofold to $2.03 billion in March 2024 from $758.22 million in March 2023. It was also higher than the $616.46 million recorded in February 2024.
Debt commitments almost doubled to $1.04 billion in March 2024, from $517.98 million a year ago. However, it was much higher than $254.24 million in February 2024. Guarantees for overseas units declined to $839.16 million in March 2024 from $1.36 billion in March 2023. They were down substantially compared to $2.80 billion in February 2024, RBI data showed.
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