Overseas direct investment by Indian firms at $2.35 bn in May

Mumbai: Overseas direct investment by Indian companies fell to $2.35 billion in May from $2.67 billion in April, the Reserve Bank said today.

The investment in equity declined to $341.36 million last month from $596.33 million in April, according to the RBI data.[caption id=“attachment_332068” align=“alignleft” width=“380” caption=“Foreign investment. Reuters”]  [/caption]

The total loan amount increased to $819.39 million in May from $312.21 million in April.

The amount reported in equity and loan represents the actual outflow.

A total of 467 deals took place during the month by the Indian companies to carry out the outward foreign direct investment, the data showed.

Tata Steel, Reliance Industries, Piramal Healthcare, JSW Steel, Monnet Ispat and Energy, Bharti Airtel, Bajaj Auto, were among the major overseas investors during the month.

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Bharti Airtel invested $300 million through its joint-venture in the Netherlands and Singapore which is into the business of communication, storage and transportation.

Reliance Industries invested $192.42 million through its two wholly-owned subsidiaries in Australia and the Netherlands engaged in agriculture, mining and manufacturing.

Piramal Healthcare invested a total of $145.34 million through its wholly-owned subsidiaries in Switzerland and the US involved in manufacturing business.

Tata Steel made an investment of $115.83 million via its wholly-owned unit in Singapore in the business of finance, insurance and real estate.

JSW Steel invested $56.45 million in Mauritius, the Netherlands and the US in the manufacturing, whole, retail, trade and restaurant business.

PTI