Indian firms dial down overseas borrowing as rupee weakens
Indian companies borrowed $2.21 billion from abroad in October—a noticeable dip for the fourth month in a row.
The reason? The rupee's ongoing slide has made it pricier to pay back loans in foreign currency, so fewer firms are looking outside India for funds right now.
Shifting gears: More local loans, cautious outlook
Most of October's overseas borrowing—about $1.92 billion—came through the automatic route, with Agratas Energy Storage Solutions leading by raising $525 million for importing equipment.
Meanwhile, Power Finance Corp and InterGlobe Aviation raised funds via special approval.
With currency swings making things tricky, many companies are now leaning toward local financing to avoid extra costs and risks.
Unless the rupee steadies or global conditions improve, experts expect this careful approach to stick around.