Mumbai: Overseas direct investments (ODI) by Indian companies more than doubled month-on-month in April to $3.37 billion, despite heightened geopolitical tensions following the West Asia conflict and a sharp depreciation in the rupee.Reserve Bank of India (RBI) data showed overseas direct investment was driven largely by equity investments. Outward investment stood at $1.61 billion in March this year and $1.97 billion in April 2025.Also read: Business leaders bullish on AI, say meaningful adoption is not far offEquity flows remained highly concentrated, with the top five companies accounting for about 86% of total investments. Coforge topped the list with two investments totalling $1.371 billion and $994 million, followed by Lupin at $229 million, Wingify Software at $156.8 million, Knack Global at $82.97 million, and Qlar Technology India at $54 million.There were some mid-sized deals. For instance, TVS Motor Co and Inventurus Knowledge Solutions committed $40 million each, Cipla $35 million, and Fractal Analytics $28 million, along with mid-sized bets by Titan, Man Industries and Sikka Ports in the $20-26 million range.Beyond these, most overseas investments were below $10 million and spread across sectors and geographies.Other ODI included firms such as Zydus Lifesciences, Carborundum Universal and Hubergroup.
India Inc's foreign investments more than double in April
Indian companies significantly boosted overseas investments in April. Direct investments surged to $3.37 billion, more than doubling from March. Equity investments led this growth. Coforge was a major investor, with other companies like Lupin and Wingify Software also making substantial commitments. These investments spanned various sectors and regions, indicating active global expansion by Indian businesses.
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