Mumbai : India Inc raised $2.18 billion from overseas markets in July through external commercial borrowing, up 74 per cent from a year ago, RBI data showed.
In July 2017, the companies raised $1.89 billion by tapping foreign markets.
Of the total borrowings (ECB), $1.75 billion was raised through automatic route and rest from approval route of the ECB.
Reliance Jio Infocom was the only company to have raised over $1 billion via the approval route.
Among the major borrowers in the automatic route included JSW Steel $165 million for modernisation project, Dewan Housing Finance Corporation $240 million for refinancing of earlier ECB and GE Diesel Locomotive $121 million for refinancing of rupee loan.
Prodair Air Products India $72.28 million for new project and BMW India Financial Services $48.68 million for the purpose of on lending.
No money was raised through the way of Rupee-denominated bonds (RDB) during the month, showed the data.