1. India Inc’s overseas investment drops 56% in May

India Inc’s overseas investment drops 56% in May

India Inc's foreign investment witnessed a sharp 56 per cent decline at USD 1.26 billion in May this year.

By: | Mumbai | Updated: June 15, 2017 7:00 PM
India Inc, India Inc foreign investment, India Inc decline, Indian businesses' foreign investment, FDI India Inc’s foreign investment witnessed a sharp 56 per cent decline at USD 1.26 billion in May this year. (PTI)

India Inc’s foreign investment witnessed a sharp 56 per cent decline at USD 1.26 billion in May this year. Indian companies had invested USD 2.84 billion overseas in the same month a year ago. The Indian businesses’ foreign investment also saw a decline on monthly basis as compared to USD 3.15 billion in April 2017, a fall of 60 per cent, according to RBI data. Of the total financial commitment by Indian firms in their overseas ventures, USD 713.18 million was in form of issuance of guarantee, USD 161.74 million as loan while rest of USD 385.95 million was through equity infusion. Among major investors, pharma major Dr Reddy’s Laboratories invested USD 263 million in its wholly owned unit in Switzerland. ONGC Videsh Ltd made a gross investment of USD 74.08 million in its joint ventures and a fully owned subsidiary in various locations across the globe. Among others, Coastal Gujarat Power Ltd infused USD 32.25 million in a fully owned company in Singapore and Indiabulls Real Estate USD 21.68 million in its wholly owned unit in Jersey. Wadhawan Global Captial USD 33.30 million and Jain Irrigation USD 30 million in their respective wholly owned subsidiaries in the UK and the Netherlands.

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