ECBs stand at USD 2.5 bn during December 2016      

Indian firms have raised about USD 2.5 bn through external commercial borrowings (ECBs) by automatic and approval route in December 2016 as against USD 0.3 billion in the month of November 2016. The borrowings stood at US$ 3.03 billion in December 2015 External commercial borrowings (ECBs) since Jan 2015                                                                                                                (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$308.5 billion between FY2001 and FY2017 (till December 2016).         ECB Inflows                                                                                                                                  (US$bn) Source: PHD Research Bureau, compiled from RBI Note: ECB contains both automatic and approval routes, * Till December 2016 A closer look at the ECBs pattern reveals that the lion’s share in ECBs during the month of December 2016 is held by refinancing of earlier ECB to about 71% of the total followed by overseas acquisition to about 11% and  on-lending/sub-lending at 5.4%.       Pattern showing ECBs during December 2016                                                                 (% share in total)       Source: PHD Research Bureau, compiled from RBI, Note: ECB contains automatic and approval route both. Please contact for any query related to this mail to Ms. Surbhi Sharma, Sr. Research Officer at surbhi@phdcci.in with a cc to Dr. S P Sharma, Chief Economist, PHD Chamber of Commerce & Industry.