India Inc made less investments overseas, direct investments decline by 57%
If the Reserve Bank data is to be believed, direct investments made overseas by Indian companies declined 57.3 % to $1.82 billion last month.
In January, the investments made were amounted to be $4.25 billion which were lower than from December’s $2.49 billion.
Of the total overseas direct investment of $1.82 billion, $246.37 million came in the form of equity money; $483.78 million through loans. While the rest of $1.09 billion was the guarantee issued by the Indian firms in their foreign units.
Among a few major investors, Bharat Petrosources invested $721.42 million in four tranches in joint venture and wholly owned subsidiary in Australia and Singapore. Intas Pharmaceuticals invested $344.35 million in its fully owned unit in the UK, while ONGC Videsh put in a total of $52.59 million in four different joint ventures in Myanmar, Russia and