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India Inc foreign borrowings jump over two-fold
India Inc's foreign borrowings grew over two-fold to $3.41 billion in October over the corresponding month a year ago, according to data from the Reserve Bank of India.
New Delhi: India Inc's foreign borrowings grew over two-fold to $3.41 billion in October over the corresponding month a year ago, according to data from the Reserve Bank of India.
Indian companies had raised $1.41 billion in borrowings from overseas markets in October 2018. Of the total money borrowed by the domestic companies, $2.87 billion was through the automatic route of external commercial borrowing (ECB), $538 million came in through the approval route of ECB, showed the data.
In the ECB category, the major borrowers tapping the automatic route included Muthoot Finance ($400 mn), HPCL-Mittal Energy ($300 mn), Wardha Solar (Maharashtra) ($251 mn), Larsen and Toubro ($200 mn), Deccan Fine Chemicals ($140 mn) and Aditya Birla Finance ($75 mn).
