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India has raised the overseas borrowing limit by an individual corporate to $750 million from $500 million under the automatic route, R.Gopalan, Economic Affairs Secretary in the finance ministry told reporters on Thursday.

High interest rates have impacted investment demand in Asia's third-largest economy and many corporates, which have been raising cheaper funds from abroad, had asked the government to further relax the external commercial borrowing (ECB) rules.

Indian companies have already raised a little over $20 billion between January and July. 

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