India Inc’s investment in overseas ventures fell 44 per cent year-on-year to $ 3.15 billion in the first month of the current fiscal. In April 2016, Indian firms had invested $ 5.61 billion overseas. However, investments on month-on-month basis in April were higher than the March’s $ 2.99 billion, showed the data from Reserve Bank. Of the total outward direct investments during the month, $ 1.43 billion was through equities. Rest $ 1.01 billion was in the form loans and $ 709.68 million as part of issuance of guarantee.
Among major investors, Piramal Enterprises invested a total of $ 506.94 million through joint ventures and wholly owned subsidiaries in the Netherlands and the USA. Cadila healthcare invested $ 133.01 million through various wholly-owned units and joint ventures in Germany, UAE and the US. Telecom major Bharti Airtel parked $ 450 million in a fully-owned unit in Mauritius, showed the data.