Govt will soon start releasing monthly data on FDI outflows

NEW DELHI: The government will soon start releasing monthly data on outward foreign direct investments on the lines of FDI inflow figures that it makes public regularly, according to an official.

The data will be released in coordination with the Reserve Bank, which has so far been the sole agency for compiling information on the outward FDI.

The new mechanism has been suggested by a committee headed by RBI Deputy Governor Shyamala Gopinath, the official said. It has already devised a format for detailed collection of fund outflows.

The Department of Industrial Policy and Promotion (DIPP), the nodal agency on FDI policy, is closely working with the RBI, the official said.

At present, the DIPP releases detailed foreign direct investment inflows to India on a monthly basis.

"While we have a very detailed data base on FDI inflows, such data for outward investment is missing. Whatever information is available it is quite sketchy," the official said.

India's outward investments were USD 10.3 billion during 2009-10. With firms becoming more aggressive in overseas mergers and acquisitions arena, the fund outflow may increase in the coming years.

Recently, companies like Bharti Airtel and Mahindra's have done major overseas acquisitions entailing large outflow of funds.