India Inc’s overseas direct investment fell over 47 per cent to $ 1.77 billion during July 2017, the RBI data showed today.
Indian companies had invested $ 3.35 billion in the same month of last year.
Of the total investments in foreign ventures by Indian companies overseas, $ 900.66 million was in the form of issuance of guarantee, $ 513.81 million as loan and $ 353.55 million was part of equity investment.
In preceding month June 2017, the outward foreign direct investment stood at $ 1.11 billion.
Among major investors, SAS Hotels and Enterprises put in $ 360 million into a wholly owned subsidiary in Singapore; Intas Pharmaceuticals $ 68.66 million in two separate tranches in wholly owned units in Spain and the UK, while ONGC Videsh Ltd invested a sum of $ 51.88 million in its various joint ventures located in Vietnam, Russia and Myanmar.