India Inc overseas investments plunge 46% to $1.12 billion

Direct investments by Indian firms abroad plunged by 46 per cent to $1.12 billion in June this year, according to the RBI data. They had invested $2.07 billion in their overseas ventures in June last year. In previous month, May 2017, the investment figure stood at $1.26 billion. The investments made last month were a mix of issuance of guarantees ($370.11 million), loans (178.80 million) and equity ($568.34 million). The prominent investors overseas in June included Indian Oil, investing a combined $284.28 million in a joint venture and

The prominent investors overseas in June included Indian Oil, investing a combined $284.28 million in a joint venture and fully owned subsidiary in Mayanmar and Singapore respectively. ONGC Videsh Ltd invested $118.68 million in a host of joint ventures and fully owned units in various locations. Motherson Sumi System pumped in $89.30 million in a joint venture in the UK.