Overseas investments by Indian cos trebles to $7.64 bn in Apr

Mumbai: Overseas direct investment by Indian companies more than trebled to $7.64 billion in April, from $1.89 billion in March, data from the Reserve Bank showed today.

As many as 499 deals were carried out by the Indian companies during the first month of the current fiscal to carry out the outward foreign direct investment, it said.

Bharti Airtel, ONGC Videsh, Suzlon Energy, GMR Infrastructure, Amtek Auto and Tractors and Farm Equipment

were among the major companies that invested in their overseas arms during the month.

Bharti Airtel committed $3.35 billion in its joint venture in the Netherlands that is into the business of

transport, storage and communication services.

ONGC Videsh Limited invested $813.52 million in its joint venture in Azerbaijan and $70.08 million in its wholly-owned unit in Cayman Island.

Suzlon Energy made an investment of $674.79 million in its wholly owned subsidiary in The Netherlands. GMR Infrastructure invested $306.93 million in its wholly-owned unit in Mauritius and Amtek Auto made an

investment of $286.72 million in two separate projects in Germany and Singapore.

Tractors and Farm Equipment made an investment of $89.8 million in two separate entities in China and the US.

PTI