1. India Inc’s foreign investments jumps 2-fold to $3 bn in March

India Inc’s foreign investments jumps 2-fold to $3 bn in March

Foreign direct investment (FDI) by Indian companies in their overseas ventures jumped over two- fold to $2.99 billion last month.

By: | Mumbai | Published: April 18, 2017 6:35 PM
Investments in March this year were much higher than the preceding month, February, at 7.53 million, the Reserve Bank data showed today. (PTI)

Foreign direct investment (FDI) by Indian companies in their overseas ventures jumped over two- fold to $2.99 billion last month. Indian firms had made investments of $1.42 billion in their overseas joint-ventures/subsidiaries in March 2016.

Investments in March this year were much higher than the preceding month, February, at $867.53 million, the Reserve Bank data showed today.

Their investment came in the form of equities $1.99 billion, loans of $742.60 million and issuance of guarantee worth $251.40 million.

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Among major investors include Bharti Airtel with Ltd $765.20 million and Tata International Ltd, $179.22 million.

ONGC Videsh Ltd invested $75.49 million and WNS Global Services $53.78 million.

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