Investments by Indian firms abroad in January 2020 rose by nearly 40 per cent to $2.10 bn on a yearly basis, according to the Reserve Bank of India (RBI). Indian firms had invested $1.47 bn in their overseas ventures in the same month a year ago. Compared monthly, January investments were higher than $1.99 bn in December 2019, RBI data showed.

Of the total capital invested by India companies in January this year, $793.82 mn was in the form of equity capital, $368.55 came in as debt capital, while the rest $890.75 mn was through the issuance of guarantee, the data on outward foreign direct investment (OFDI) showed.

Among the major investors were Bharti Airtel Ltd, which pumped in $247.5 mn in its wholly-owned subsidiary (WoS) in Mauritius; Serum Institute of India, which invested $226.07 mn in a WoS in the Netherlands; and Allcargo Logistics , which invested $88.08 mn in a WoS unit in Belgium, according to a report.