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Business Standard
12-06-2025
- Business
- Business Standard
ECBs ease to $2.91 billion in April after March surge, shows RBI data
After surging past $11 billion in March 2025, the proposals by Indian firms to raise funds through external commercial borrowings (ECBs) dropped to $2.91 billion in April 2025, according to Reserve Bank of India (RBI) data. Companies, including non-banking financial companies (NBFCs), had filed ECB intents worth $ 11.04 billion in March 2025. Out of the intents filed in April 2025, the amount for those using the automatic route was $1.90 billion, and via the approval route, it was $ 1.01 billion, according to RBI data. Among the prominent firms that filed intent in April 2025 with the RBI was Shriram Finance, through automatic route, for $830 million, for on-lending or sub-lending operations. The funds to be raised from the international financial market has a maturity of three years. Amongst the other finance companies, was SMFG India Credit Company Ltd with an intent to raise around $ 208 million from foreign collaborator\equity holders having three-year maturity. Indian Renewable Energy Development Agency Ltd, state-owned entity in the business of financial services, filed for raising about $ 180 million. InterglobeAviation Ltd, Air transport operator, filed ECB intent for $ 106 million to import capital goods. The funding from the leasing company has a maturity of 145 months, RBI data showed. Intas Pharmaceuticals Ltd, manufacturer of pharmaceuticals, medicinal chemical and botanical products, filed for ECB intent worth $ 151 million. The funding from commercial banks has a maturity of 60 months. The total ECB filing in the financial year 2025 (FY25) was $61.18 billion, up from $48.81 billion in FY24 and $25.98 billion in FY23, showed data sourced by the Business Standard Research Bureau from RBI and Bloomberg. The net ECB inflows were $25.1 billion in FY25, nearly three times the level recorded a year ago. Over 42 per cent of the total ECBs raised during FY25 were intended to be used for capital expenditure (capex), including on-lending and sub-lending for capex, according to the 'State of Economy' report in RBI's bulletin (May 2025).
Yahoo
12-06-2025
- Business
- Yahoo
2025 State of Economy event held in Longview discuss new laws to help East Texans
LONGVIEW, Texas (KETK)– LEDCO addresses tariffs to KETK News at the 2025 State of Economy. The event was held by the Longview Chamber of Commerce to hear about how new laws will help the local economy. The nonprofit organization, Texas 2036 spoke about how additional funds to public education, water infrastructure, and healthcare will boost the economy and set the state up for success. Future of NASA Scientific Balloon Facility in Palestine in question due to proposed budget cuts Texas 2036 is a non partisan organization that uses long term data to secure Texas' future. Another push to help rural East Texans is expanding the reach for career readiness out of high school. 'To ensure and support more students becoming college and career ready. How do we ensure that they are ready for the workforce even when they're coming out of high school?' senior vice president of strategy and operations of Texas 2036, Justin Coppedge said. Coppedge said the state's economy boomed over the past few years and LEDCO president, Wayne Mansfield sees the growth in Longview. 'A lot of new construction and redevelopment occurring,' Mansfield said. Several businesses are currently expanding, still able to find employees, so I think the overall the economy is doing quite well coupled with the fact that the four school districts in our city have bond issues.' Mansfield does not believe tariffs will have a negative impact on businesses but may bring more companies. 'One positive aspect of it is that we've had a lot more inquiries from international companies looking for locations or potential locations to move out of the countries like Canada and Mexico in particular, or even Europe wanting to move their company here into Texas to get relief from the tariffs,' Mansfield said. Some people fear that foreign companies have ill intentions, but Mansfield said it gives East Texans more job opportunities. 'Generally, when companies from other countries, particularly Europe, locate in a community, they're there for the duration,' Mansfield said. 'They do not intend to leave any time. They want to come locate, become profitable, become parts of the community and stay for a long, long periods of time, ' Mansfield said.' Even though the legislative session is over, seeds have been planted at the state level, so years down the line Texans will reap the benefits. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Business Standard
06-06-2025
- Business
- Business Standard
Lower net FDI due to repatriation signals mature market, says RBI governor
The sharp drop in net foreign direct investment (FDI) in FY25 was due to repatriation, which is a sign of a mature market where investors can enter and exit smoothly, RBI governor Sanjay Malhotra said while announcing the monetary policy decision on Friday. Net FDI flows moderated to $0.4 billion in FY25, down from $10.1 billion the previous year, data released by the RBI earlier this month showed. Gross FDI inflows remained strong, rising by around 14 per cent to $81.0 billion in 2024-25 from $71.3 billion a year earlier. 'It is germane to point out that this moderation [of net FDI] is on account of a rise in repatriation and net outward FDI while gross FDI actually increased by 14 per cent. Rise in repatriation is a sign of a mature market where foreign investors can enter and exit smoothly, while high gross FDI indicates that India continues to remain an attractive investment destination,' Malhotra said. He also said external commercial borrowings (ECBs) and non-resident deposits witnessed higher net inflows compared to the previous year. Net inflows under ECBs to India increased to $18.7 billion during 2024-25 compared with $3.6 billion a year earlier. In April 2025, net ECB to India rose to $2.8 billion from $0.5 billion a year earlier. Non-resident deposits recorded a higher net inflow of $16.2 billion in 2024-25 compared with $14.7 billion a year earlier. 'Overall, India's external sector remains resilient as key external sector vulnerability indicators continue to improve. We remain confident of meeting our external financing requirements,' he said. Foreign portfolio investment (FPI) to India dropped sharply to $1.7 billion in 2024-25, as foreign portfolio investors booked profits in equities. According to the RBI's State of Economy report, more than 60 per cent of gross FDI inflows in FY25 were in manufacturing, financial services, electricity and other energy, and communication services sectors. Singapore, Mauritius, the UAE, the Netherlands and the United States accounted for more than 75 per cent of the flows. Repatriation and disinvestment by those who made direct investments in India increased to $51.5 billion in FY25 from $44.5 billion in FY24 and $29.3 billion in FY23. Overseas investments made by Indian companies (outward FDI) increased to $29.2 billion in FY25 from $16.7 billion in FY24 and $14 billion in FY23. Singapore, the US, the United Arab Emirates, Mauritius and the Netherlands together accounted for more than half of the rise in outward FDI, the report said.
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Business Standard
14-05-2025
- Business
- Business Standard
ECB filings hit 72-month high of $11.04 bn in March, shows RBI data
Indian firms, including non-banking financial companies (NBFCs), filed proposals with the Reserve Bank of India (RBI) in March 2025 to raise $11.04 billion through external commercial borrowings (ECBs). This is the highest monthly filing in the last 72 months. Of this, the intent for fundraising through the automatic route amounted to $8.34 billion, and via the approval route, it was $2.69 billion, according to RBI data. Total ECB filing in FY25 was $61.18 billion, up from $48.81 billion in FY24 and $25.98 billion in FY23, showed data sourced by the Business Standard Research Bureau from RBI and Bloomberg. Among the prominent firms that filed intent in March 2025 with the RBI is JSW Steel Ltd, for $900 million, for refinancing of earlier ECBs. The funding from commercial banks has a maturity of 63 months. ONGC Videsh Ltd, state-owned entity in the business of crude petroleum and natural gas, filed for raising $450 million. It, however, did not specify the purpose. ONGC Videsh also filed an ECB intent for $150 million to make overseas investments in joint ventures and wholly-owned subsidiaries, RBI data showed. Mangalore Refinery and Petrochemicals Ltd, which is also a unit of state-owned ONGC, filed for ECB intent worth $500 million to refinance debt raised earlier through ECBs. The funding from commercial banks has a maturity of 65 months. Among finance companies, Power Finance Corporation Ltd filed an intent to raise around $250 million from banks through a loan having a five-year maturity. Muthoot Finance Ltd filed to raise $400 million for on-lending purposes. The principal repayment for ECBs stood at $25.8 billion during April-2024-February 2025. After adjusting for repayments, net ECB inflows were at $20.3 billion during this period. This is more than double the level recorded a year ago, according to the article State of Economy in RBI's monthly bulletin (April 2025).
