Indian firms' March foreign borrowings plunge 51% to $5.43bn
Business
Indian companies borrowed way less money from abroad this March, just $5.43 billion, which is 51% lower than last year.
The main reasons? Global interest rates are high, the rupee's been shaky, and hedging costs keep climbing.
Indian firms prefer 6.5%-7% domestic loans
It's not just a one-month thing: foreign borrowings for the full year dropped 30% compared to last year.
With international loans getting pricier (thanks to higher rates and global tensions), many Indian firms now find local loans more appealing, especially since some can snag them at around 6.5% to 7%.
Big names like the Adani Group-owned companies and several NBFCs still borrowed abroad in March, but overall, most companies are playing it safe closer to home.