Mumbai, Mar 18 (IANS): India's outward foreign direct investment (FDI) commitments rose by 7.8 per cent to $3.05 billion year-on-year in February 2024, compared to $2.83 billion in February 2023, according to the latest data released by the RBI on Monday.

However, sequentially, the figure jumped by 38.4 per cent from $2.19 billion in January 2024, the figures showed.

Outbound FDI, expressed as a financial commitment, comprises three components -- equity, loans, and guarantees.

The equity commitments declined to $502.13 million in February 2024 from $776.79 million in February 2023.

It was also lower than the $764.29 million recorded in January 2024.

The loan commitments declined to $251.08 million in February 2024 from $334.75 million in February 2023 and $306.59 million in January 2024.

The guarantees issued during February 2024 jumped to $2.72 billion from $1.72 billion in February 2023 and $2.19 billion in January 2024.