Jul 22 at 5:10 PM
ECBs stand at US$ 1.89 bn during Jun 2014
Indian firms have raised US$ 1.89bn through external commercial borrowings (ECBs) in the month of Jun 2014 and US$ 1.46bn during May 2014 by automatic and approval route. The borrowings stood at US$ 1.89bn in Jun 2014 as compared to US$ 1.95bn in Jun 2013.
External commercial borrowings (ECBs) since April 2011 (US$bn)
Source: PHD Research Bureau, compiled from RBI
Note: ECB contains both automatic and approval routes
India has received gross ECBs worth around US$249 bn between FY2001 and FY2015 (till Jun 2014).
Gross ECB Inflows (US$bn)
Source: PHD Research Bureau, compiled from RBI.
* Data pertains till Jun 2014
Note: ECB contains both automatic and approval routes
A closer look at the ECBs pattern reveals that the lion’s share in ECB during the month of Jun 2014 is held by Refinancing of Earlier ECB contributing to about 53% of the total, followed by Import of Capital Goods at about 28%, and Rupee Expenditure Loc.CG at about 7%.
Pattern showing ECBs during Jun 2014 (% share in total)
Source: PHD Research Bureau, compiled from RBI, Note: ECB contains automatic& approval route both.
Warm regards,
Dr. S P Sharma
Chief Economist
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