Mumbai: Overseas direct investment by Indian companies declined to $1.24 billion in July from $3.53 billion a month earlier.
As many as 459 deals took place last month involving Indian firms, leading to an overseas equity investment of $436.14 million as compared to $341.71 million in June, RBI data showed.
Investing abroad. Reuters
Investments through loan rose to $341.12 million from $177.17 million in June, it said.
“I would not read much into this. Change of mind by investors in India on account of improving (domestic) sentiments is too early to comment,” Director, Indian Institute of Foreign Trade, KT Chacko said today.
The companies that invested overseas in the month of July included JSW Steel, Bharti Airtel, Tata Steel, Global Green Company, Religare Capital Markets, Reliance Industries, Spice Invest and Finance Advisors.
JSW Steel invested $163.39 million through its wholly-owned subsidiaries and joint-venture in Mauritius, the Netherlands and the US for its businesses in manufacturing, wholesale and retail trade besides the hotel segment.
Bharti Airtel invested $150.01 million through its wholly owned unit in Mauritius in the areas of communication, storage and transportation.
Tata Steel made an investment of $96.79 million via its wholly owned subsidiary in Singapore in financial services, insurance and real estate business, RBI said.
Global Green Company, which is into wholesale, retail trade, restaurants and hotels invested $70.73 million through its joint venture in Belgium.
Religare Captial Markets invested $64.11 million in its wholly owned business in Mauritius. The subsidiary is into financial, insurance, real estate and business services.
Reliance Industries undertook an investment of $45.15 million in its wholly owned subsidiaries in the United Arab Emirates and Australia. The subsidiaries are into financial services, insurance, real estate and business services.
Spice Invest and Finance Advisors invested $37.55 million through its wholly owned subsidiary in Singapore in the areas of financial, insurance, real estate services.
