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India Inc’s Overseas Investment Plunges 71% To $747 Million In November

Mumbai: Direct investments by Indian firms abroad plunged by 70.9 per cent year-on-year to $747.78 million in November 2016.

Indian firms had invested $2,573.35 million in their overseas ventures in November 2015, RBI data released today showed.

In previous month October 2016, the overseas investment by domestic companies stood at $2,106.18 million.

The investments were a mix of issuance of guarantees ($255.97 million), loans (254.58 million) and equity ($237.23 million).

Of the major overseas investors during the month included Greatship (India) $133.8 million in its joint venture Greatship Global Energy Servcies in Singapore and Palava Dwellers Pvt Ltd $66.01 million in its wholly owned subsidiary Lodha Developers International (Netherlands).

PTI