India's outward foreign direct investment (OFDI) nearly halved to $3.39 billion in April on an annual basis, as per data released by the Reserve Bank of India (RBI) on Monday. The OFDI stood at $6.71 billion in April 2021.

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On a sequential basis too, the outward investment from India in April was lower compared to $3.44 billion in March 2022. Of the $3.39 billion OFDI, the equity component was $544.87 million, and loans amounted to $764.25 million. Indian companies issued guarantees worth $2.08 billion in April 2022.

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

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