Mumbai: India’s outward foreign direct investment (FDI) commitments reached $3.24 billion in October 2024, rising from $2.55 billion in October 2023. However, on a month-over-month basis, commitments declined from $3.77 billion in September 2024, according to the Reserve Bank of India (RBI).

Outbound FDI, which represents financial commitments, is categorized into equity, loans, and guarantees.

Equity commitments dropped to $655.84 million in October 2024, down from $993.35 million in October 2023 and $817.64 million in September 2024.

Debt commitments, however, surged to $1.24 billion in October 2024, compared to $248.4 million in October 2023, and exceeded the $1.16 billion recorded in September 2024.

Guarantees for overseas units remained steady at $1.33 billion in October 2024, close to $1.31 billion a year earlier, but were lower than the $1.79 billion in September 2024, according to RBI data.