India Inc’s April overseas direct investment dips 84% to $4.11 bn
Investment by Indian companies in their overseas ventures fell by almost 84 per cent to $4.11 billion in April 2016, according to RBI data. The domestic firms had made a collective investment of $7.56 billion in the same month a year ago.
However, the investment put in by the local companies abroad in April this year was higher than $1.36 billion in previous month. The companies made investments in a mix of guarantee issue ($1.92 billion), loans (298.75 million) and equity ($1.89 billion).
Among the major companies that invested in their overseas joint-ventures/wholly owned units include Lupin India $925 million; Videocon Oil Ventures $176 million; Videocon Industries $100 million.
Among others are Crompton Greaves $104.66 million, Oil India $96.17 million. The direct investment outside India are the investments, either made through the automatic or the approval route.