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111717936

Census on Foreign Liabilities and Assets of Indian Direct Investment Entities for 2023-24

Today, the Reserve Bank released the provisional results of the 2023-241 round of the annual census on foreign liabilities and assets (FLA) covering cross-border liabilities and assets of the entities {viz., companies, limited liability partnerships (LLPs), alternative investment funds (AIFs) and partnership firms} with inward/outward direct investment (DI).

Out of the 41,653 entities which responded in the latest census, 37,407 reported foreign direct investment (FDI) and/or overseas direct investment (ODI) in their balance sheet for March 2024. Of these entities, 29,926 had also reported in the previous census round and 7,481 have newly reported in the current round. Over three-fourths of the companies that reported inward direct investment were subsidiaries of foreign companies (i.e., single foreign investor holding more than 50 per cent of total equity).

The census captures detailed information on (a) market value of liabilities and assets of Indian DI entities arising on account of cross-border direct and other investments; and (b) trade parameters (viz., activity sector, sales, purchase, exports, and imports), in addition to identification particulars of a reporting entity. The variations in outstanding assets / liabilities between the beginning and end of a financial year would be different from flows recorded in India’s balance of payments (BoP) statistics during the year, as the former would also include valuation changes due to price and exchange rate movements.

Main Findings:

  • Over 97 per cent of the responding DI entities were unlisted as at end-March 2024 and they held the dominant share in total FDI equity capital at face value (Tables 1 and 2A).

  • Non-financial companies accounted for nearly 90 per cent of the FDI equity at face value (Table 2B).

  • Listed and unlisted2 companies had nearly equal shares in total FDI at market value (Table 3A).

  • Supported by valuation gains as well as fresh inflows, total FDI in India surged by 23.3 per cent at market value in rupee terms during 2023-24; on the other hand, ODI growth was much lower at 3.4 per cent (Table 3B).

  • Unlisted entities recorded 17.5 per cent growth in FDI at market value during the year; in the listed space, the corresponding growth was even higher at 29.8 per cent (Tables 3A and 3B).

  • With FDI growth outpacing ODI rise, the ratio of outward to inward DI stock at market value declined to 16.1 per cent in March 2024 from 19.3 per cent a year ago (Table 3B).

  • DI entities' other non-portfolio liabilities (viz., trade credit, loans, currency and deposits, and other payable) to unrelated (third party) non-resident entities were less than half of their FDI liabilities at market value, but their similar assets exceeded their ODI at market value in March 2024 (Table 4).

  • The United States continued to be the largest source of FDI in India, followed by Mauritius, Singapore and the United Kingdom. In case of ODI, Singapore, the United States and the United Kingdom were the top destinations (Tables 5 and 6).

  • Manufacturing sector accounted for more than half of total FDI equity capital at market value; at face value, it had nearly 40 per cent share (Tables 7 and 8).

  • In the services sector, ‘information and communication’ and ‘financial and insurance activities’ were the major FDI recipients (Table 8).

  • During 2023-24, total sales and purchases of foreign subsidiaries in India increased by 13.2 per cent and 10.6 per cent, respectively, in rupee terms (Tables 9A and 9B).

  • Foreign subsidiaries in India maintained strong external trade linkages as exports and imports accounted for 35.4 per cent and 31.5 per cent of their sales and purchases, respectively (Tables 9A to 9D).

  • Both sales and purchases of overseas subsidiaries of Indian companies recorded 11 per cent growth during 2023-24 in rupee terms; their outward focus was reflected in export-to-sales and import-to-purchase ratios of 62.4 per cent and 75.3 per cent, respectively (Tables 10A to 10D).

  • The difference between purchase-to-sales ratio of overseas subsidiaries of Indian companies (85.2 per cent) from that of foreign subsidiaries in India (72.5 per cent) reflects divergence in their patterns of value addition, nature of markets and other business considerations.

(Puneet Pancholy)     
Chief General Manager

Press Release: 2024-2025/1276


Table 1: Coverage in FLA Census, 2023-24

Category

Types of Entity

Number of Entities with Direct Investment

Both Inward and Outward

Only Inward

Only Outward

Total

1

2

3

4

5

6

Unlisted

Foreign Associate companies in India

505

5,382

-

5,887

Foreign Subsidiary companies in India

401

23,941

-

24,342

Alternative Investment Funds

98

434

31

563

LLP1 and Partnership Firms

7

1,018

715

1,740

Other companies2

-

-

3,806

3,806

Total

1,011

30,775

4,552

36,338

Listed

Foreign Associate companies in India

84

143

-

227

Foreign Subsidiary companies in India

36

80

-

116

Other companies

-

-

726

726

Total

120

223

726

1,069

Grand Total

1,131

30,998

5,278

37,407

1 Limited Liabilities Partnership (LLP)
2 Includes entities who have only overseas direct investment


Table 2A: Foreign Equity Participation of FDI entities – Listed and Unlisted

(amount in ₹ crore at face value, end-March 2024)

Category

Listed

Unlisted

Total

(343)

(31,786)

(32,129)

Amount

per cent

Amount

per cent

Amount

1

2

3

4

5

6

Paid-Up Capital

86,394

7.4

10,77,549

92.6

11,63,943

   of which: Equity Capital

86,042

7.6

10,46,262

92.4

11,32,304

      of which: FDI Equity Capital

17,619

1.9

8,87,588

98.1

9,05,207

Note:
1. Numbers in parenthesis indicate the number of entities in the respective category.
2. Components may not add up to the total due to rounding off (applicable for all tables).


Table 2B: Foreign Equity Participation of FDI entities – Financial and Non-Financial

(amount in ₹ crore at face value, end-March 2024)

Category

No of Entities

Paid Up Capital (PUC)

Total Equity (PUC excluding Non-Participating Preference Share)

Equity exclusively under FDI scheme

% share of FDI in Total Equity

1

2

3

4

5

6

Financial

1,421

1,25,491

1,18,564

98,358

83.0

Non-Financial

30,708

10,38,452

10,13,740

8,06,849

79.6

Total

32,129

11,63,943

11,32,304

9,05,207

79.9


Table 3A: Inward Direct Investment for Listed and Unlisted entities

(amount in ₹ crore at market value, end-March)

Direct Investment

Listed Entities

Unlisted Entities

Total

% Growth (₹ terms)

2023

2024

2023

2024

2023

2024

1

2

3

4

5

6

7

8

Equity

23,38,361

30,32,384

23,88,475

28,22,975

47,26,836

58,55,359

23.9

Debt

5,843

9,424

1,79,098

1,92,816

1,84,941

2,02,240

9.4

Total

23,44,204

30,41,808

25,67,573

30,15,791

49,11,777

60,57,599

23.3


Table 3B: Total Inward and Outward Direct Investment

(amount at market value, end-March)

Direct Investment

Inward

Outward

2023

2024

2023

2024

₹ crore

US$ million

₹ crore

US$ million

₹ crore

US$ million

₹ crore

US$ million

1

2

3

4

5

6

7

8

9

Equity

47,26,836

5,74,923

58,55,359

7,02,301

7,33,173

89,176

8,50,864

1,02,054

Debt

1,84,941

22,494

2,02,240

24,257

2,12,479

25,844

1,27,322

15,271

Total

49,11,777

5,97,417

60,57,599

7,26,558

9,45,652

1,15,020

9,78,186

1,17,325

Note: The amount in US$ terms is arrived at by using financial year-end rupee/ dollar exchange rate


Table 4: Other Foreign Liabilities and Assets of Direct Investment Entities - Revised

(amount at market value, end-March)

Other Investment

Outstanding liabilities with unrelated party

Outstanding assets with unrelated party

2023

2024

2023

2024

₹ crore

US$ million

₹ crore

US$ million

₹ crore

US$ million

₹ crore

US$ million

1

2

3

4

5

6

7

8

9

Trade Credits

5,01,348

60,979

5,33,026

63,932

3,97,144

48,304

4,58,121

54,948

Loans

9,84,043

1,19,689

10,85,297

1,30,172

3,58,542

43,609

3,86,349

46,339

Currency and Deposits

6,08,294

73,986

7,75,916

93,065

1,49,926

18,235

1,55,745

18,680

Other receivable and payable accounts

3,39,302

41,269

3,43,503

41,200

2,02,511

24,632

2,37,268

28,458

Total

24,32,987

2,95,923

27,37,742

3,28,369

11,08,123

1,34,780

12,37,483

1,48,425


Table 5: Country-wise distribution of Inward Direct Investment

(amount in ₹ crore at market value, end-March)

Country Name

Equity

Debt

Total FDI

% share in 2023-24

2023

2024

2023

2024

2023

2024

1

2

3

4

5

6

7

8

United States of America

8,69,963

10,22,594

-5,492

-10,622

8,64,471

10,11,972

16.7

Mauritius

6,81,252

8,86,757

22,578

22,646

7,03,830

9,09,403

15.0

Singapore

6,24,586

7,66,171

55,858

74,514

6,80,444

8,40,685

13.9

United Kingdom

6,97,928

7,19,174

7,724

5,784

7,05,652

7,24,958

12.0

Netherlands

4,07,694

5,48,684

11,250

12,647

4,18,944

5,61,331

9.3

Japan

3,69,114

5,24,496

18,468

18,026

3,87,582

5,42,522

9.0

Switzerland

2,67,619

3,96,167

2,840

6,232

2,70,459

4,02,399

6.6

Germany

1,54,358

2,08,291

8,770

12,065

1,63,128

2,20,356

3.6

France

1,23,367

1,47,739

4,106

4,654

1,27,473

1,52,393

2.5

South Korea

86,603

96,725

17,826

10,193

1,04,429

1,06,918

1.8

Other Countries

4,44,352

5,38,561

41,013

46,101

4,85,365

5,84,662

9.6

All Countries

47,26,836

58,55,359

1,84,941

2,02,240

49,11,777

60,57,599

100


Table 6: Country-wise distribution of Outward Direct Investment

(amount in ₹ crore at market value, end-March)

Country Name

Equity

Debt

Total ODI

% Share in 2023-24

2023

2024

2023

2024

2023

2024

1

2

3

4

5

6

7

8

Singapore

1,65,348

2,05,218

52,945

27,627

2,18,293

2,32,845

23.8

United States of America

92,801

1,06,912

36,244

39,406

1,29,045

1,46,318

15.0

United Kingdom

1,06,330

1,21,800

16,163

17,834

1,22,493

1,39,634

14.3

Netherlands

83,008

94,817

17,837

13,052

1,00,845

1,07,869

11.0

Mauritius

62,462

63,854

23,573

21,085

86,035

84,939

8.7

Switzerland

20,851

23,977

12,780

13,662

33,631

37,639

3.8

United Arab Emirates

55,583

75,060

23,778

-38,903

79,361

36,157

3.7

Jersey

13,607

13,430

91

96

13,698

13,526

1.4

Bermuda

12,585

10,690

1

1

12,586

10,691

1.1

Germany

5,132

5,589

2,463

3,854

7,595

9,443

1.0

Other Countries

1,15,466

1,29,517

26,604

29,608

1,42,070

1,59,125

16.2

All Countries

7,33,173

8,50,864

2,12,479

1,27,322

9,45,652

9,78,186

100.0


Table 7: Activity-wise equity participation of the Direct Investment entities

(amount in ₹ crore at face value, end-March 2024)

Activity

Total Equity (PUC excluding Non-Participating Preference Share)

Equity exclusively under FDI scheme

% share of FDI in Total Equity

1

2

3

4

1. Agriculture-related, Plantations and Allied activities

3,575

3,379

94.5

2. Mining

1,964

1,667

84.9

3. Manufacturing

4,15,892

3,60,785

86.7

4. Electricity, gas, steam, and air conditioning supply

77,109

56,088

72.7

5. Water supply; sewerage, waste management and remediation activities

4,350

3,487

80.2

6. Construction

60,226

47,507

78.9

7. Information and communication

2,02,494

1,41,139

69.7

8. Other Services

3,66,694

2,91,155

79.4

Total

11,32,304

9,05,207

79.9


Table 8: Activity-wise distribution of 32,129 FDI entities

(amount in ₹ crore at market value, end-March 2024)

Activity

No. of entities

Equity

Debt

Total FDI

% share of Total FDI

1

2

3

4

5

6

A. Agriculture-related, Plantations and Allied activities

165

8,413

227

8,640

0.1

B. Mining

143

3,309

489

3,798

0.1

C. Manufacturing

6,796

30,09,792

1,01,834

31,11,626

51.4

Manufacture of food products

311

2,53,156

9,674

2,62,830

4.4

Manufacture of beverages

46

86,917

388

87,305

1.4

Manufacture of tobacco products

5

1,13,006

-

1,13,006

1.9

Manufacture of textiles

183

7,418

986

8,404

0.2

Manufacture of wearing apparel

101

13,659

864

14,523

0.2

Manufacture of leather and related products

52

9,638

113

9,751

0.2

Manufacture of wood and products of wood and cork, except furniture

12

-28

34

6

-

Manufacture of paper and paper products

78

4,598

290

4,888

0.1

Printing and reproduction of recorded media

28

789

6

795

-

Manufacture of coke and refined petroleum products

35

80,744

135

80,879

1.3

Manufacture of chemicals and chemical products

492

2,18,543

8,354

2,26,897

3.8

Manufacture of pharmaceuticals, medicinal chemical and botanical products

352

2,04,317

8,608

2,12,925

3.5

Manufacture of rubber and plastics products

288

45,753

3,183

48,936

0.8

Manufacture of other non-metallic mineral products

78

1,12,649

582

1,13,231

1.9

Manufacture of basic metals

135

1,20,661

2,574

1,23,235

2.0

Manufacture of fabricated metal products, except machinery and equipment

269

28,582

2,938

31,520

0.5

Manufacture of computer, electronic and optical products

239

1,04,313

6,965

1,11,278

1.8

Manufacture of electrical equipment

525

2,11,898

6,200

2,18,098

3.6

Manufacture of machinery and equipment not elsewhere classified

1,173

3,29,356

12,108

3,41,464

5.6

Manufacture of motor vehicles, trailers and semi-trailers

236

3,65,392

13,078

3,78,470

6.2

Manufacture of other transport equipment

150

57,045

1,623

58,668

1.0

Manufacture of furniture

50

1,625

25

1,650

-

Repair and installation of machinery and equipment

230

9,173

787

9,960

0.2

Other manufacturing

1,728

6,30,588

22,319

6,52,907

10.8

D. Electricity, gas, steam and air conditioning supply

861

1,93,690

17,214

2,10,904

3.5

E. Water supply; sewerage, waste management and remediation activities

157

5,629

550

6,179

0.1

F. Construction

952

1,08,206

35,275

1,43,481

2.4

G. Services

23,055

25,26,321

46,650

25,72,971

42.4

1.Wholesale and retail trade; repair of motor vehicles and motorcycles

2,724

1,61,844

19,604

1,81,448

3.0

2.Transportation and storage

698

86,236

10,129

96,365

1.6

3.Accommodation and Food service activities

606

50,407

2,992

53,399

0.9

4.Information and communication

9,476

9,40,995

-11,849

9,29,146

15.3

5.Financial and insurance activities

1,469

9,39,517

7,458

9,46,975

15.6

6.Real estate activities

335

19,278

7,003

26,281

0.4

7.Other Services activities

7,747

3,28,044

11,313

3,39,357

5.6

Total

32,129

58,55,360

2,02,239

60,57,599

100.0


Table 9A: Activity-wise Sales of 25,249* Foreign subsidiary companies in India

(amount in ₹ crore at market value, end-March)

Activity

No. of Companies

2022-23

2023-24

% share  in Total (2023-24)

1

2

3

4

5

A. Agriculture-related, Plantations and Allied activities

73

10,144

9,982

0.2

B. Mining

48

3,069

3,321

0.1

C. Manufacturing

4,253

23,58,967

26,52,191

47.4

Manufacture of food products

170

1,13,142

1,17,406

2.0

Manufacture of beverages

21

87,995

98,776

1.7

Manufacture of tobacco products

1

211

185

-

Manufacture of textiles

78

9,847

9,753

0.1

Manufacture of wearing apparel

57

5,577

5,982

0.1

Manufacture of leather and related products

26

6,236

6,225

0.1

Manufacture of wood and products of wood and cork, except furniture

6

290

298

-

Manufacture of paper and paper products

43

14,789

14,443

0.3

Printing and reproduction of recorded media

18

1,197

1,504

-

Manufacture of coke and refined petroleum products

16

35,136

38,524

0.7

Manufacture of chemicals and chemical products

325

2,12,312

2,16,150

3.9

Manufacture of pharmaceuticals, medicinal chemical and botanical products

190

89,806

95,274

1.7

Manufacture of rubber and plastics products

194

64,507

66,070

1.2

Manufacture of other non-metallic mineral products

41

28,603

30,761

0.6

Manufacture of basic metals

69

41,385

42,044

0.8

Manufacture of fabricated metal products, except machinery and equipment

159

30,986

33,272

0.6

Manufacture of computer, electronic and optical products

144

3,19,085

3,97,884

7.1

Manufacture of electrical equipment

368

1,64,169

1,91,857

3.4

Manufacture of machinery and equipment not elsewhere classified

801

2,06,394

2,37,787

4.3

Manufacture of motor vehicles, trailers and semi-trailers

146

4,42,178

4,99,917

8.9

Manufacture of other transport equipment

103

72,087

81,096

1.5

Manufacture of furniture

23

2,953

3,585

0.1

Repair and installation of machinery and equipment

173

13,654

17,470

0.3

Other manufacturing

1,081

3,96,428

4,45,928

8.0

D. Electricity, gas, steam and air conditioning supply

401

33,411

44,509

0.8

E. Water supply; sewerage, waste management and remediation activities

81

7,375

7,614

0.1

F. Construction

391

41,367

44,128

0.8

G. Services

15,568

24,83,220

28,29,392

50.6

1.Wholesale and retail trade; repair of motor vehicles and motorcycles

1,828

5,93,167

6,65,194

11.9

2.Transportation and storage

427

1,02,387

91,976

1.6

3.Accommodation and Food service activities

234

15,692

17,872

0.3

4.Information and communication

7,198

12,40,714

14,13,736

25.3

5.Financial and insurance activities

422

1,02,462

1,37,131

2.5

6.Real estate activities

116

16,368

18,320

0.3

7.Other Services activities

5,343

4,12,430

4,85,163

8.7

Total

20,815

49,37,553

55,91,137

100.0

*Of the 25,249 subsidiary companies, 20,815 reported sales.


Table 9B: Activity-wise Purchase of 25,249* Foreign subsidiary companies in India

(amount in ₹ crore at market value, end-March)

Activity

No. of Companies

2022-23

2023-24

% share in Total (2023-24)

1

2

3

4

5

A. Agriculture-related, Plantations and Allied activities

73

7,785

7,454

            0.2

B. Mining

50

1,569

2,030

            0.1

C. Manufacturing

4,242

18,54,609

20,07,292

          49.6

Manufacture of food products

171

90,041

90,674

            2.3

Manufacture of beverages

20

40,250

39,888

            1.0

Manufacture of tobacco products

1

137

122

              -  

Manufacture of textiles

75

6,226

6,002

            0.1

Manufacture of wearing apparel

59

3,751

4,385

            0.1

Manufacture of leather and related products

26

3,316

3,504

            0.1

Manufacture of wood and products of wood and cork, except furniture

7

232

209

              -  

Manufacture of paper and paper products

43

11,029

10,437

            0.3

Printing and reproduction of recorded media

15

372

424

              -  

Manufacture of coke and refined petroleum products

17

27,985

28,088

            0.7

Manufacture of chemicals and chemical products

320

1,57,615

1,52,785

            3.8

Manufacture of pharmaceuticals, medicinal chemical and botanical products

192

56,948

62,365

            1.5

Manufacture of rubber and plastics products

196

47,501

46,454

            1.1

Manufacture of other non-metallic mineral products

43

21,425

21,845

            0.5

Manufacture of basic metals

76

36,424

38,318

            0.9

Manufacture of fabricated metal products, except machinery and equipment

166

21,942

22,796

            0.6

Manufacture of computer, electronic and optical products

142

3,01,363

3,62,324

            8.9

Manufacture of electrical equipment

366

1,42,752

1,33,903

            3.3

Manufacture of machinery and equipment not elsewhere classified

787

1,56,108

1,73,894

            4.3

Manufacture of motor vehicles, trailers and semi-trailers

148

3,68,469

4,07,468

          10.1

Manufacture of other transport equipment

106

63,990

68,532

            1.7

Manufacture of furniture

22

1,938

2,510

            0.1

Repair and installation of machinery and equipment

169

8,275

10,613

            0.3

Other manufacturing

1,075

2,86,520

3,19,752

            7.9

D. Electricity, gas, steam, and air conditioning supply

435

28,636

38,260

            0.9

E. Water supply; sewerage, waste management and remediation activities

75

5,066

5,490

            0.1

F. Construction

394

34,426

34,009

            0.8

G. Services

11,103

17,31,484

19,57,996

          48.3

1.Wholesale and retail trade; repair of motor vehicles and motorcycles

1,810

5,38,706

5,92,348

          14.6

2.Transportation and storage

398

80,391

71,831

            1.8

3.Accommodation and Food service activities

215

9,272

10,514

            0.3

4.Information and communication

4,452

7,43,283

8,36,066

          20.6

5.Financial and insurance activities

340

65,870

80,365

            2.0

6.Real estate activities

109

16,005

16,974

            0.4

7.Other Services activities

3,779

2,77,957

3,49,898

            8.6

Total

16,372

36,63,575

40,52,531

        100.0

*Of the 25,249 subsidiary companies, 16,372 reported purchases.


Table 9C: Activity-wise Export of 25,249* Foreign subsidiary companies in India

(amount in ₹ crore at market value, end-March)

Activity

2022-23

2023-24

Amount

% share in Total

% share in Total sales

1

2

3

4

5

A. Agriculture-related, Plantations and Allied activities

1,092

1,263

0.1

12.7

B. Mining

421

399

-

12.0

C. Manufacturing

5,17,280

5,88,767

29.7

22.2

Manufacture of food products

16,095

18,755

0.9

16.0

Manufacture of beverages

1,235

1,301

0.1

1.3

Manufacture of tobacco products

210

184

-

100.0

Manufacture of textiles

2,872

2,926

0.1

30.0

Manufacture of wearing apparel

2,612

3,017

0.2

50.4

Manufacture of leather and related products

790

804

-

12.9

Manufacture of wood and products of wood and cork, except furniture

21

31

-

10.4

Manufacture of paper and paper products

2,175

2,307

0.1

16.0

Printing and reproduction of recorded media

727

900

-

59.8

Manufacture of coke and refined petroleum products

13,923

17,611

0.9

45.7

Manufacture of chemicals and chemical products

39,499

38,918

2.0

18.0

Manufacture of pharmaceuticals, medicinal chemical and botanical products

37,278

41,237

2.1

43.3

Manufacture of rubber and plastics products

14,254

13,681

0.7

20.7

Manufacture of other non-metallic mineral products

1,871

1,931

0.1

6.3

Manufacture of basic metals

5,000

4,407

0.2

10.5

Manufacture of fabricated metal products, except machinery and equipment

6,379

6,494

0.3

19.5

Manufacture of computer, electronic and optical products

93,265

1,31,760

6.7

33.1

Manufacture of electrical equipment

32,551

41,893

2.1

21.8

Manufacture of machinery and equipment not elsewhere classified

54,233

59,665

3.0

25.1

Manufacture of motor vehicles, trailers and semi-trailers

83,910

85,208

4.3

17.0

Manufacture of other transport equipment

19,606

19,237

1.0

23.7

Manufacture of furniture

531

680

-

19.0

Repair and installation of machinery and equipment

3,651

5,056

0.3

28.9

Other manufacturing

84,592

90,764

4.6

20.4

D. Electricity, gas, steam and air conditioning supply

2,859

3,481

0.2

7.8

E. Water supply; sewerage, waste management and remediation activities

474

524

-

6.9

F. Construction

3,121

4,447

0.2

10.1

G. Services

12,34,142

13,81,703

69.8

48.8

1.Wholesale and retail trade; repair of motor vehicles and motorcycles

67,703

55,371

2.8

8.3

2.Transportation and storage

19,357

17,309

0.9

18.8

3.Accommodation and Food service activities

2,183

2,642

0.1

14.8

4.Information and communication

9,00,951

10,14,742

51.2

71.8

5.Financial and insurance activities

13,252

15,847

0.9

11.6

6.Real estate activities

417

577

-

3.1

7.Other Services activities

2,30,279

2,75,215

13.9

56.7

Total

17,59,389

19,80,584

100.0

35.4

*Of the 25,249 subsidiary companies, 15,946 reported exports.


Table 9D: Activity-wise Import of 25,249* Foreign subsidiary companies in India

(amount in ₹ crore at market value, end-March)

Activity

2022-23

2023-24

Amount

% share in Total

% share in Total purchase

1

2

3

4

5

A. Agriculture-related, Plantations and Allied activities

1,590

1,525

0.1

20.5

B. Mining

190

204

-

10.1

C. Manufacturing

7,75,771

8,38,157

65.8

41.8

Manufacture of food products

32,066

32,379

2.5

35.7

Manufacture of beverages

3,776

3,642

0.3

9.1

Manufacture of tobacco products

2

1

-

0.8

Manufacture of textiles

1,883

2,044

0.2

34.1

Manufacture of wearing apparel

1,213

1,293

0.1

29.5

Manufacture of leather and related products

1,046

1,030

0.1

29.4

Manufacture of wood and products of wood and cork, except furniture

111

107

-

51.1

Manufacture of paper and paper products

4,352

3,371

0.3

32.3

Printing and reproduction of recorded media

220

273

-

64.3

Manufacture of coke and refined petroleum products

10,750

10,895

0.9

38.8

Manufacture of chemicals and chemical products

82,517

78,545

6.2

51.4

Manufacture of pharmaceuticals, medicinal chemical and botanical products

23,993

24,383

1.9

39.1

Manufacture of rubber and plastics products

16,596

16,806

1.3

36.2

Manufacture of other non-metallic mineral products

3,987

3,452

0.3

15.8

Manufacture of basic metals

15,062

16,624

1.3

43.4

Manufacture of fabricated metal products, except machinery and equipment

4,321

4,616

0.4

20.3

Manufacture of computer, electronic and optical products

2,01,974

2,50,481

19.6

69.1

Manufacture of electrical equipment

77,159

62,769

4.9

46.9

Manufacture of machinery and equipment not elsewhere classified

61,510

64,226

5.0

36.9

Manufacture of motor vehicles, trailers and semi-trailers

69,329

74,978

5.9

18.4

Manufacture of other transport equipment

16,109

16,756

1.3

24.5

Manufacture of furniture

452

457

-

18.2

Repair and installation of machinery and equipment

3,843

5,010

0.4

47.2

Other manufacturing

1,43,500

1,64,019

12.9

51.3

D. Electricity, gas, steam and air conditioning supply

7,061

8,876

0.7

23.2

E. Water supply; sewerage, waste management and remediation activities

504

521

-

9.5

F. Construction

4,246

3,884

0.3

11.4

G. Services

4,03,325

4,21,755

33.1

21.5

1.Wholesale and retail trade; repair of motor vehicles and motorcycles

2,03,212

1,95,149

15.4

32.9

2.Transportation and storage

14,238

11,262

0.9

15.7

3.Accommodation and Food service activities

1,174

1,275

0.1

12.1

4.Information and communication

1,35,967

1,55,644

12.2

18.6

5.Financial and insurance activities

7,047

8,188

0.6

10.2

6.Real estate activities

356

458

-

2.7

7.Other Services activities

41,331

49,779

3.9

14.2

Total

11,92,687

12,74,922

100.0

31.5

*Of the 25,249 subsidiary companies, 8,538 reported imports.


Table 10A: Activity-wise Sales of 8,590 Overseas Subsidiaries of 6,409 Indian entities

(amount in ₹ crore at market value, end-March)

Activity

No. of entities

2022-23

2023-24

% Share in Total
(2023-24)

1

2

3

4

5

A. Agriculture-related, Plantations and Allied activities

22

3,367

3,067

0.2

B. Mining

46

9,065

11,017

0.8

C. Manufacturing

1,760

7,26,563

8,49,332

64.0

Manufacture of food products

84

12,416

12,495

0.9

Manufacture of beverages

19

5,246

8,638

0.7

Manufacture of tobacco products

5

3,343

3,283

0.2

Manufacture of textiles

61

4,666

4,182

0.3

Manufacture of wearing apparel

33

5,275

5,836

0.4

Manufacture of leather and related products

19

12,969

11,009

0.8

Manufacture of wood and products of wood and cork, except furniture

3

43

48

-

Manufacture of paper and paper products

14

1,725

1,789

0.1

Printing and reproduction of recorded media

9

53

86

-

Manufacture of coke and refined petroleum products

16

3,90,558

5,06,492

38.3

Manufacture of chemicals and chemical products

186

51,544

38,897

2.9

Manufacture of pharmaceuticals, medicinal chemical and botanical products

294

75,337

82,746

6.2

Manufacture of rubber and plastics products

80

5,596

5,889

0.4

Manufacture of other non-metallic mineral products

23

2,644

3,768

0.3

Manufacture of basic metals

26

37,383

40,929

3.1

Manufacture of fabricated metal products, except machinery and equipment

54

11,048

12,152

0.9

Manufacture of computer, electronic and optical products

34

5,125

3,766

0.3

Manufacture of electrical equipment

67

2,527

3,362

0.3

Manufacture of machinery and equipment not elsewhere classified

191

9,513

10,626

0.8

Manufacture of motor vehicles, trailers and semi-trailers

42

14,372

15,267

1.1

Manufacture of other transport equipment

12

3,274

3,453

0.3

Manufacture of furniture

5

511

688

0.1

Repair and installation of machinery and equipment

8

59

70

-

Other manufacturing

475

71,336

73,861

5.6

D. Electricity, gas, steam and air conditioning supply

26

1,111

1,458

0.1

E. Water supply; sewerage, waste management and remediation activities

15

268

323

-

F. Construction

63

10,148

17,821

1.3

G. Services

3,437

4,46,192

4,46,977

33.6

1.Wholesale and retail trade; repair of motor vehicles and motorcycles

429

79,919

77,329

5.8

2.Transportation and storage

163

36,024

22,799

1.7

3.Accommodation and Food service activities

57

1,113

2,471

0.2

4.Information and communication

1,713

2,55,933

2,68,659

20.2

5.Financial and insurance activities

175

14,397

19,329

1.5

6.Real estate activities

27

395

478

-

7.Other Services activities

873

58,411

55,912

4.2

Total

5,369

11,96,714

13,29,995

100.0

*Of the 8,590 overseas subsidiary companies, 5,369 reported sales.


Table 10B: Activity-wise Purchase of 8,590 Overseas Subsidiaries of 6,409 Indian entities

(amount in ₹ crore at market value, end-March)

Activity

No. of entities

2022-23

2023-24

% Share in Total                  (2023-24)

1

2

3

4

5

A. Agriculture-related, Plantations and Allied activities

23

2,965

2,632

0.2

B. Mining

61

7,629

9,098

0.8

C. Manufacturing

1,708

6,60,610

7,60,381

67.1

Manufacture of food products

82

10,675

10,571

0.9

Manufacture of beverages

17

2,456

3,796

0.3

Manufacture of tobacco products

6

1,213

1,242

0.1

Manufacture of textiles

64

3,157

2,779

0.3

Manufacture of wearing apparel

35

4,887

5,197

0.5

Manufacture of leather and related products

18

11,444

9,583

0.9

Manufacture of wood and products of wood and cork, except furniture

4

23

32

-

Manufacture of paper and paper products

14

1,440

1,557

0.1

Printing and reproduction of recorded media

7

56

74

-

Manufacture of coke and refined petroleum products

11

3,82,950

4,89,914

43.2

Manufacture of chemicals and chemical products

178

44,905

32,465

2.9

Manufacture of pharmaceuticals, medicinal chemical and botanical products

292

51,306

61,577

5.4

Manufacture of rubber and plastics products

81

4,255

4,398

0.4

Manufacture of other non-metallic mineral products

25

8,762

3,072

0.3

Manufacture of basic metals

26

37,000

32,894

2.9

Manufacture of fabricated metal products, except machinery and equipment

51

10,523

9,200

0.8

Manufacture of computer, electronic and optical products

36

4,241

2,779

0.2

Manufacture of electrical equipment

64

1,971

2,606

0.2

Manufacture of machinery and equipment not elsewhere classified.

182

6,642

7,509

0.7

Manufacture of motor vehicles, trailers and semi-trailers

46

12,210

12,765

1.1

Manufacture of other transport equipment

14

2,702

2,836

0.3

Manufacture of furniture

6

291

427

-

Repair and installation of machinery and equipment

8

44

35

-

Other manufacturing

441

57,457

63,073

5.6

D. Electricity, gas, steam and air conditioning supply

35

1,056

1,156

0.1

E. Water supply; sewerage, waste management and remediation activities

11

232

272

-

F. Construction

70

8,299

15,300

1.4

G. Services

3,020

3,35,448

3,44,297

30.4

1.Wholesale and retail trade; repair of motor vehicles and motorcycles

417

72,621

71,676

6.3

2.Transportation and storage

165

33,941

20,834

1.8

3.Accommodation and Food service activities

48

722

1,608

0.2

4.Information and communication

1,447

1,72,867

1,92,670

17.0

5.Financial and insurance activities

157

9,107

12,173

1.1

6.Real estate activities

37

832

304

-

7.Other Services activities

749

45,358

45,032

4.0

Total

4,928

10,16,239

11,33,136

100.0

*Of the 8,590 overseas subsidiary companies, 4,928 reported purchases.


Table 10C: Activity-wise Exports of 8,590 Overseas Subsidiaries of 6,409 Indian entities

(amount in ₹ crore at market value, end-March)

Activity

2022-23

2023-24

Amount

Amount

% share in total

% share in sales

1

2

3

4

5

A. Agriculture-related, Plantations and Allied activities

1,489

1,256

0.2

41.0

B. Mining

3,279

5,175

0.6

47.0

C. Manufacturing

5,46,764

6,51,716

78.5

76.7

Manufacture of food products

4,973

5,233

0.6

41.9

Manufacture of beverages

564

1,040

0.1

12.0

Manufacture of tobacco products

250

175

-

5.3

Manufacture of textiles

2,704

2,489

0.3

59.5

Manufacture of wearing apparel

4,216

4,670

0.6

80.0

Manufacture of leather and related products

12,404

10,410

1.3

94.6

Manufacture of wood and products of wood and cork, except furniture

36

33

-

68.8

Manufacture of paper and paper products

945

977

0.1

54.6

Printing and reproduction of recorded media

15

8

-

9.3

Manufacture of coke and refined petroleum products

3,80,714

4,96,663

59.8

98.1

Manufacture of chemicals and chemical products

33,750

21,549

2.6

55.4

Manufacture of pharmaceuticals, medicinal chemical and botanical products

27,854

27,417

3.3

33.1

Manufacture of rubber and plastics products

2,219

2,220

0.3

37.7

Manufacture of other non-metallic mineral products

1,228

1,195

0.1

31.7

Manufacture of basic metals

31,883

31,243

3.8

76.3

Manufacture of fabricated metal products, except machinery and equipment

2,794

2,916

0.4

24.0

Manufacture of computer, electronic and optical products

3,615

2,051

0.3

54.5

Manufacture of electrical equipment

1,309

1,666

0.2

49.6

Manufacture of machinery and equipment not elsewhere classified

3,181

3,678

0.4

34.6

Manufacture of motor vehicles, trailers and semi-trailers

3,311

3,292

0.4

21.6

Manufacture of other transport equipment

1,595

1,755

0.2

50.8

Manufacture of furniture

68

85

-

12.4

Repair and installation of machinery and equipment

4

4

-

5.7

Other manufacturing

27,132

30,947

3.7

41.9

D. Electricity, gas, steam and air conditioning supply

74

198

-

13.6

E. Water supply; sewerage, waste management and remediation activities

44

37

-

11.5

F. Construction

2,788

2,610

0.3

14.6

G. Services

1,91,568

1,69,282

20.4

37.9

1.Wholesale and retail trade; repair of motor vehicles and motorcycles

64,310

60,122

7.3

77.7

2.Transportation and storage

26,104

14,274

1.7

62.6

3.Accommodation and Food service activities

140

173

-

7.0

4.Information and communication

65,827

64,095

7.7

23.9

5.Financial and insurance activities

3,719

5,819

0.7

30.1

6.Real estate activities

28

169

-

35.4

7.Other Services activities

31,440

24,630

3.0

44.1

Total

7,46,006

8,30,274

100.0

62.4

*Of the 8.590 overseas subsidiary companies, 2,643 reported exports.


Table 10D: Activity-wise Imports of 8,590 Overseas Subsidiaries of 6,409 Indian entities

(amount in ₹ crore at market value, end-March)

Activity

2022-23

2023-24

Amount

Amount

% share in total

% share in purchase

1

2

3

4

5

A. Agriculture-related, Plantations and Allied activities

2,776

2,416

0.3

91.8

B. Mining

2,574

4,212

0.5

46.3

C. Manufacturing

5,80,696

6,79,337

79.7

89.3

Manufacture of food products

5,985

5,701

0.7

53.9

Manufacture of beverages

1,336

2,018

0.2

53.2

Manufacture of tobacco products

444

538

0.1

43.3

Manufacture of textiles

2,375

2,268

0.3

81.6

Manufacture of wearing apparel

1,431

1,431

0.2

27.5

Manufacture of leather and related products

11,315

9,434

1.1

98.4

Manufacture of wood and products of wood and cork, except furniture

1

1

-

3.1

Manufacture of paper and paper products

461

590

0.1

37.9

Printing and reproduction of recorded media

53

71

-

95.9

Manufacture of coke and refined petroleum products

3,80,750

4,87,632

57.1

99.5

Manufacture of chemicals and chemical products

36,284

24,478

2.9

75.4

Manufacture of pharmaceuticals, medicinal chemical and botanical products

42,392

51,532

6.0

83.7

Manufacture of rubber and plastics products

3,323

3,113

0.4

70.8

Manufacture of other non-metallic mineral products

188

771

0.1

25.1

Manufacture of basic metals

31,932

30,458

3.6

92.6

Manufacture of fabricated metal products, except machinery and equipment

7,697

6,523

0.8

70.9

Manufacture of computer, electronic and optical products

3,507

2,142

0.2

77.1

Manufacture of electrical equipment

1,446

1,514

0.2

58.1

Manufacture of machinery and equipment not elsewhere classified

2,792

3,408

0.4

45.4

Manufacture of motor vehicles, trailers and semi-trailers

6,050

5,247

0.6

41.1

Manufacture of other transport equipment

1,815

1,801

0.2

63.5

Manufacture of furniture

261

417

-

97.7

Repair and installation of machinery and equipment

7

10

-

28.6

Other manufacturing

38,851

38,239

4.5

60.6

D. Electricity, gas, steam and air conditioning supply

133

289

-

25.0

E. Water supply; sewerage, waste management and remediation activities

29

93

-

34.2

F. Construction

1,697

2,481

0.3

16.2

G. Services

1,76,106

1,64,364

19.2

47.7

1.Wholesale and retail trade; repair of motor vehicles and motorcycles

56,226

53,057

6.2

74.0

2.Transportation and storage

15,132

7,267

0.8

34.9

3.Accommodation and Food service activities

65

205

-

12.7

4.Information and communication

70,534

75,786

8.9

39.3

5.Financial and insurance activities

3,708

4,120

0.5

33.8

6.Real estate activities

92

81

-

26.6

7.Other Services activities

30,349

23,848

2.8

53.0

Total

7,64,011

8,53,192

100.0

75.3

*Of the 8,590 overseas subsidiary companies, 2,922 reported imports.


1 The previous data release in the series, covering 2022-23 census round, was published on September 12, 2023, on the RBI website.

2 Market value of equity of unlisted companies is compiled as per the own fund book value (OFBV) method prescribed in the Co-ordinated Direct Investment Survey Guide (2015) of the International Monetary Fund (IMF).

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