India Inc India Inc: Wednesday, 13 September 2017 07:21

Drop in India’s overseas FDI

Indian companies investing abroad registered a dip over the last month, according to latest Reserve Bank of India (RBI) data.

India’s foreign direct investment (FDI) overseas fell by about 15 per cent to $1.34 billion in August, down from $1.57 billion in August 2016. The foreign investments were also lower than the $1.77 billion figure registered in July this year.

The investment break-up included $944.14 million in the form of guarantees issued, $184.44 million in loan and $210.68 million as equity infusion.

Among the major Indian investors, Wipro Ltd invested $500 million in a wholly owned unit in the US and Sintex–BAPL Ltd invested $102.50 million in a joint venture in the Netherlands.

Tata Communications invested $78.75 million in a wholly-owned subsidiary in Singapore and ONGC Videsh Ltd invested $55.54 million in various joint ventures in Myanmar, Russia and Vietnam.

India Investment Journal’ has in-depth coverage on related topics.

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