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India's outward foreign direct investment (OFDI) nearly halved to USD 3.39 billion in April on an annual basis, as per data released by the RBI on Monday.
The OFDI stood at USD 6.71 billion in April 2021.
On sequential basis too, the outward investment from India in April was lower compared to USD 3.44 billion in March 2022.
Of the USD 3.39 billion OFDI, the equity component was USD 544.87 million and loans amounted to USD 764.25 million. Indian companies issued guarantees worth USD 2.08 billion in April 2022.
The Reserve Bank of India (RBI) further said the data is provisional and subject to change based on online reporting by banks.
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