India Inc's foreign direct investment dips 62% to $976 million in April 

India's overseas direct investment (ODI) in April dipped 62 per cent to $976.14 million, data from the Reserve Bank showed. The fall in ODI can mainly be attributed to the coronavirus pandemic, which led to a global lockdown and halt in most of the business activities.

Domestic firms had invested nearly $2.56 billion in their joint ventures/wholly-owned subsidiaries during April 2019, according to the RBI data on Outward Foreign Direct Investment.

Indian firms had invested $2.70 billion in overseas businesses in March 2020.

Of the total investment by Indian companies in April 2020-21, $586.42 million was in the form of loans, $230.81 million was equity infusion, while $158.91 million was in the form of issuance of guarantees, the data showed.

RBI said the data is provisional and is subject to change based on reporting by banks.