Meanwhile, India's foreign direct investment dips 2%

Direct investments by Indian firms abroad fell by a marginal 2 per cent to $2.67 billion in October 2014, as per RBI data. Investment abroad by Indian firms were $2.74 billion in October 2013. In September 2014, Indian companies had invested $3.02 billion in overseas markets. The investments were a mix of issuance of guarantees ($2.18 billion), loan ($57.33 million) and of equity ($335.33 million). Essar Steel, Tata Consultancy Services, JSW Steel, Glenmark Pharmaceuticals were among the major investors.