The Reserve Bank of India (RBI) in its latest data on ‘Overseas Direct Investment’ has showed that India’s outward foreign direct investment (OFDI) commitments rose 48.68% to $3919.84 million in March 2024 as against $2636.42 million in March 2023. Sequentially, OFDI commitments were also up from $3,671.94 million in February 2024.

According to the report, the equity commitments surged 168.43% to $2035.30 million in March 2024 from $758.22 million a year ago. It was also higher than $616.46 million recorded in February 2024. Loan commitments increased 101.81% to $1045.36 million in March 2024 from $517.98 million in March 2023. It was also higher than $ 254.2481 million in February 2024.

The report further noted that guarantees for overseas units however declined 38.31% to $839.1683 million in March 2024 as compared to $1360.22 million in March 2023. They were also lower compared to $2,801.24 million in February 2024.