India Inc's foreign investment doubles to $3.02 bn in SeptMumbai: India Inc's overseas direct investment more than doubled to $3.02 billion last month, according to the Reserve Bank data.Total investment abroad by Indian firms stood at $1.43 billion in September 2013.During August, the Indian
Mumbai: India Inc's overseas direct investment more than doubled to $3.02 billion last month, according to the Reserve Bank data.
Total investment abroad by Indian firms stood at $1.43 billion in September 2013.
During August, the Indian companies had undertaken investments worth $1.25 billion in overseas markets.
The investments were a mix of issuance of guarantees ($2.53 billion), loan ($257.60 million) and of equity ($232.59 million).
Tata Steel, KEC International, Glenmark Pharmaceuticals, Videocon Industries, and Mercator were among the major investors overseas during the month.
Tata Steel invested $1.88 billion in its wholly-owned unit in Singapore and Mercator made an investment of $45 million in its joint venture in Singapore.
Videocon Industries made an investment of $22.06 million in a wholly owned unit in the Cayman Island, and KEC International $81.3 million in a wholly owned unit in Mauritius.
Glenmark Pharmaceuticals invested $27.12 million in five separate tranches in its joint ventures and wholly owned subsidiaries in Egypt, Mexico, Nigeria, Venezuela and Switzerland.
More from business
Tata Steel to merge European operations with Thyssenkrupp to create 2nd largest steel behemoth
Bengaluru: I-T raids on S M Krishna’s son-in-law Siddhartha, owner of Cafe Coffee Day chain
5 reasons why TRAI’s decision on IUC cut will significantly boost RIL’s earnings
GST interim returns: Over 75 per cent eligible taxpayers waited for last day to file returns, says Jaitley