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Overseas investment by cos dips 49% in Feb

Investment by Indian companies abroad dropped by 49 per cent to $1.66 billion in February compared to the previous month

Investment by Indian companies abroad dropped by 49 per cent to $1.66 billion in February compared to the previous month,the RBI data showed today. Indian companies had invested $3.30 billion in January 2013.

In a total of 480 deals,companies such as Escorts Heart Institute,Punj Lloyd,Crompton Greaves,Jindal Saw,Alok Knit Exports,Bharti Airtel and Gail India Ltd made investment in their foreign companies.

Escorts Heart Institute and Research Centre invested $409.14 million in its wholly owned subsidiary in Singapore. Crompton Greaves Ltd invested $202.36 million in its joint venture in the Netherlands which is engaged in wholesale,retail trade,restaurant and hotel business.

Punj Lloyd made an investment of $108.72 million in a wholly owned unit in Singapore. Gail India made an investment of $49 million in its wholly owned subsidiary in Singapore . Bharti Airtel made an investment of $41 million in Mauritius in its subsidiary.

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First published on: 12-03-2013 at 12:59:20 am
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