Indian cos’ foreign investment dips by 62% in April

Direct investments by Indian firms abroad fell by 62 <g data-gr-id="22">per cent</g> to $2.23 bn in April 2015 compared to that of $5.83 bn in the same month last year. The investments in April 2015 were a mix of issuance of guarantees ($1.49 bn), loan ($566.80 mn) and of equity ($178.45 mn), according to the RBI data released on Tuesday. Among major Indian companies that invested abroad were Binani Industries ($295.1 mn) and Jasper Infotech Pvt, the owner of e-commerce major Snapdeal that invested $248.75 mn in a joint venture based in Singapore. IL&FS Transportation Networks Ltd invested $189.16 mn in Singapore and Spain; GMR Airports Ltd $145 mn in Mauritius; Oil India Ltd at $100.39 in various ventures in the US, Mozambique and the Netherlands.