Friday, 11 October 2013

ECBs stands at US$2.31bn during Aug 2013


11
102013


ECBs stands at US$2.31bn during Aug 2013


Indian firms have raised US$ 2.31 bn through external commercial borrowings (ECBs) in the month of Aug 2013 and US$3.71 bn during July 2013 by automatic and approval route. The borrowings stood at US$ 2.31 bn in Aug 2013 as compared to US$ 2.36 bn in Aug 2012.

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$233 bn between FY2001 and FY2014 (till Aug 2013).

Gross ECB Inflows                                                                                                                                        (US$bn)
Source: PHD Research Bureau, compiled from RBI
* Data pertains till Aug 2013
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 Aug 2013 is held by others* contributing to about 22% of the total, followed rupee expenditure Loc.CG at around 20%, refinancing of old loans at around 18% and import of capital goods at about 17%.

  Pattern showing ECBs during Aug 2013                                                                                                           (% share in total)
  Source: PHD Research Bureau, compiled from RBI
 Note: ECB contains automatic& approval route both
*Others include the external commercial borrowings by Oil and Engineering companies, however, the purposes is not mentioned in the release.


Warm regards,

Dr. S P Sharma
Chief Economist

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