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India Inc’s investment overseas down 15 per cent to $1.34 billion in August

The foreign investments were also down sequentially when compared with USD 1.77 billion July this year, showed the Outward Foreign Direct Investment (OFDI) data of RBI.

By: PTI | Mumbai | Published: September 12, 2017 3:32:16 pm

India Inc’s foreign direct investment (FDI) fell by about 15 per cent to $ 1.34 billion in last month, according to the Reserve Bank data. The overseas investment by Indian companies in August last year ago stood at $ 1.57 billion.

The foreign investments were also down sequentially when compared with $ 1.77 billion July this year, showed the Outward Foreign Direct Investment (OFDI) data of RBI. The investment break-up included $ 944.14 million in the form of guarantees issued, $ 184.44 million and loan and $ 210.68 million as equity infusion.

Among major investors, Wipro Ltd $ 500 million in a wholly owned unit in the US and Sintex-BAPL Ltd $ 102.50 million in a joint venture in Netherlands.

Tata Communications invested $ 78.75 million in a wholly owned subsidiary in Singapore and ONGC Videsh Ltd $ 55.54 million in various joint ventures in Myanmar, Russia and Vietnam.

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