Overseas borrowings by India Inc touch $4.43 billion
Out of the total, $3.12 billion was through the automatic route and $1.31 billion through the approval route
Indian corporates are raising more funds from foreign sources to finance expansion, projects, or other financial needs, as the Reserve Bank of India’s (RBI) latest data report has showed that India's total External Commercial Borrowings (ECB) and foreign currency convertible bonds (FCCBs) stood at $4.43 billion in December 2025.
The data report stated that out of the total, $3.12 billion was through the automatic route and $1.31 billion through the approval route. Manufacturing, financial services, and transportation sectors accounted for a significant share of the borrowings.
The companies that mopped up big-ticket funds included Power Finance Corporation ($500 million), Interglobe Aviation ($464 million), Export-Import Bank of India ($350 million), Aditya Birla Capital and Indian Oil Corporation ($300 million each), and Indian Railway Finance Corporation ($299.51 million).
