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Overseas investment by Indian firms dipped
Why is it in news?
- According to Reserve Bank data, overseas investment by domestic firms fell by over 42% to $1.45 billion in December 2020.
Details:
- In the year earlier period, companies in India had invested $2.51 billion in their foreign firms (joint ventures / wholly owned units).
- In November 2020, the total outward foreign direct investment (OFDI) was of $1.06 billion, down by 27% from a month earlier.