Indian companies’ overseas investment trebles to $7.64 billion in April – The Times of India on Mobile
MUMBAI: Overseas direct investment by Indian companies more than trebled to USD 7.64 billion in April, from USD 1.89 billion in March, data from the Reserve Bank showed on Thursday.
As many as 499 deals were carried out by the Indian companies during the first month of the current fiscal to carry out the outward foreign direct investment, it said.
Bharti Airtel, ONGC Videsh, Suzlon Energy, GMR Infrastructure, Amtek Auto and Tractors and Farm Equipment were among the major companies that invested in their overseas arms during the month.
Bharti Airtel committed USD 3.35 billion in its joint venture in the Netherlands that is into the business of transport, storage and communication services.
ONGC Videsh Limited invested USD 813.52 million in its joint venture in Azerbaijan and USD 70.08 million in its wholly-owned unit in Cayman Island.
Suzlon Energy made an investment of USD 674.79 million in its wholly owned subsidiary in The Netherlands.
GMR Infrastructure invested USD 306.93 million in its wholly-owned unit in Mauritius and Amtek Auto made an investment of USD 286.72 million in two separate projects in Germany and Singapore.
Tractors and Farm Equipment made an investment of USD 89.8 million in two separate entities in China and the US.
Warm Regards / Ganesh Srinivasan
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