Overseas direct investment of Indian companies doubled in the month of June. Last month’s figure was $ 2.8 billion i.e. about 20 thousand crore rupees.
Overseas direct investment: Foreign direct investment of Indian companies more than doubled to $2.80 billion (over 20 thousand crores) in June this year from $1.39 billion a year ago, according to RBI data. According to this, in June 2021, out of the total foreign investment, $1.17 billion was in the form of guarantee, $ 1.21 billion in debt and $ 42.68 million in share-capital.
According to the data, during this period Tata Steel invested $1 billion in its wholly owned subsidiary in Singapore. Wipro invested $787.5 million in its wholly owned unit in the US and $131.2 million by Tata Power in its wholly owned unit in Mauritius.
Reliance Industries inks $56 million in agro and mining-based WOS in Singapore, InterGlobe Enterprises $515 million in joint venture in the UK, ONGC Videsh Ltd. invested $483 million in a joint venture in Mozambique and Paharpur Cooling Towers $48 million in its wholly owned subsidiary in Singapore.
According to the report, the salary of employees in India increased on an average by 5.2 percent annually. However, the overall increase on the basis of promotion and other compensation stood at 6.4 per cent. At the same time, the salary of employees working outside India increased by 2 to 6 percent. The number of permanent employees of TCS was 4,48,649 at the end of the financial year 2020-21. According to the report, the annual general meeting of the company will be held ‘online’ on June 10, 2021.
In addition, Tata Communications has invested $50 million in WOS in Singapore, ONGC Videsh Ltd. invested $48.7 million in a joint venture in Russia and WNS Global Services $45 million in a joint venture in the Netherlands.
FPI in July: Foreign portfolio investors (FPIs) have withdrawn Rs 4,515 crore from the Indian stock markets in the first fortnight of July. During this, the attitude of FPI towards the Indian market has been cautious. In June, FPIs poured Rs 13,269 crore into the Indian markets.