Indian companies' foreign investment declines 36% to $1.39 bn in July, shows RBI data

Mumbai: Investment by Indian companies in their overseas ventures fell by more than 36 percent to $1.39 billion in July this year, the Reserve Bank data showed. Indian companies had invested $2.17 billion in their overseas subsidiaries and joint ventures in the form of a loan, equity and issuance of guarantee in July 2017. [caption id=“attachment_3911699” align=“alignleft” width=“380”] US dollars. Reuters[/caption] In June 2018, domestic firms invested $2.07 billion in their ventures located out of India. Of the $1.39 billion invested in July this year, $608.52 million was the equity capital, $406.74 million was through loan and $371.86 million came in the form of issuance of guarantees. Among major investors, Serum Institute of India Pvt Ltd invested $187.39 million in its wholly-owned subsidiary in the Netherlands. Sterlite Technologies invested $66.67 million in Italy, Interglobe Enterprises $54.65 million in the UK and JSW Steel $50.47 million in the US.