Corporate India's investment in overseas ventures drop 47% to $ 1.54 bn in September, reveals RBI data

Of the total $1.55 billion investment in September, $950.82 million was in the form of loans, $251.84 million was infused as equity capital and $352.08 million was through the issuance of guarantee, RBI data on outward foreign direct investment (OFDI) showed.

Press Trust of India October 29, 2018 15:25:37 IST
Corporate India's investment in overseas ventures drop 47% to $ 1.54 bn in September, reveals RBI data

Mumbai: Indian companies' investment in their overseas ventures fell by 47 percent to $1.54 billion in September 2018, Reserve Bank data showed.

Indian companies had invested $2.91 billion in their joint ventures (JVs) and wholly-owned subsidiaries (WoS) abroad during September 2017.

Corporate Indias investment in overseas ventures drop 47 to  154 bn in September reveals RBI data

US dollars. Reuters.

In August, the investment by domestic companies in overseas firms was a mere $992.14 million.

Of the total $1.55 billion investment in September, $950.82 million was in the form of loans, $251.84 million was infused as equity capital and $352.08 million was through the issuance of guarantee, RBI data on outward foreign direct investment (OFDI) showed.

Major investors included UPL, which pumped in $408.12 million in its wholly-owned subsidiary in Mauritius, Sanmar Group International infused $77.55 million in WoS in Switzerland and JSW Steel put in $74.87 million in five tranches in its wholly-owned unit and joint ventures located in the US, Italy and Chile.

KEC International invested $71.35 million in a JV in Saudi Arabia; ONGC Videsh Ltd $59.37 million in its joint-ventures in Russia and Vietnam and Sage Metals put $33.50 million in a wholly-owned unit in the US.

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