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India Inc’s foreign investment fell 84 per cent in August at $399 million

Indian firms' overseas direct investment fell 84 per cent to $399.06 million in August, data from RBI showed.

By: | Mumbai | Published: September 17, 2016 5:22 PM
Indian companies had made an investment of .47 billion in the markets abroad during the same period last year. (Reuters) Indian companies had made an investment of .47 billion in the markets abroad during the same period last year. (Reuters)

Indian firms’ overseas direct investment fell 84 per cent to $399.06 million in August, data from RBI showed.

Indian companies had made an investment of $2.47 billion in the markets abroad during the same period last year.

Compare to July this year, direct investments in August were down by 82.6 per cent.

The investments were in the form of issuance of guarantees ($97.14 million), loans (146.36 million) and equity ($155.56 million).

Palava Dwellers Pvt Ltd was among the biggest investors, which invested 21.75 million in its wholly owned subsidiaries in Jersey, Mauritius and The Netherlands.

WNS Global Services invested $15.35 million in a joint venture in the UK, General Insurance Corporation infused $11.9 million in a wholly owned business in South Africa and Bharat Petroresources spent $15.15 million in a fully owned unit in the Netherlands.

Crompton Greaves invested $19.39 million in its joint venture in the Netherlands.

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