Outward FDI nearly halves to $3.39 bn in April

India's outward foreign direct investment (OFDI) nearly halved to $3.39 billion in April on an annual basis, as per data released by the RBI on Monday.

The OFDI stood at $6.71 billion in April 2021.

On sequential basis too, the outward investment from India in April was lower compared to $3.44 billion in March 2022.

Of the $3.39 billion OFDI, the equity component was $544.87 million and loans amounted to $764.25 million.

Indian companies issued guarantees worth $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.