Indian/Foreign MNCs

Under the Balance of Payments system, a distinction is made in terms of payments to residents and non residents. The details of payment of dividend and profit to nonresident shareholders during 2010-11 to 2013-14, as provided by the RBI, is given below:

(in USD Million)

According to the RBI, the number of Indian companies which has repatriated funds to India during the last three years is given below:

The payment of dividend and share of profit to non-resident shareholders of foreign entitles operations in India and the dividend repatriated to India by Indian companies operating abroad are part of the Investment Income under the Current Account of Balance of Payments. Since 1994, in adherence to Article VIII of the IMF, all current transactions are fully convertible.

This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha