Overseas investments by Indian companies halved to $ 5.47 billion in June, while Mundra Port and Bharti Airtel emerged as the top players in committing investments abroad.
Outward flows totalled $ 12.27 billion in June 2010. In the first three months of this fiscal (April—June), outward FDI stood at $ 10.57 billion. This is much lower than $ 18.26 billion recorded in the June quarter of 2010—11.
As per the RBI data released on Tuesday, Indian firms issued financial guarantees worth $ 3.9 billion, loans worth $ 937 million and contributed $ 641.37 million towards equities.
Mundra Port and SEZ extended a guarantee of $ 2.25 billion to its wholly owned subsidiary Mundra Port PTY Ltd in Australia, RBI said. The subsidiary is engaged in construction activities.
Telecom major Bharti Airtel made overseas investments worth $ 494.5 million through three separate deals last month. The total investment was spread across the Netherlands ($ 140 million), Singapore ($ 350 million) and Mauritius ($ 4.5 million).
While FDI outward data is available for the first quarter, latest figures for inward foreign direct investment is only till May.
FDI inflows saw a whopping 111 per cent increase in May at $ 4.66 billion, the second highest monthly inflows in 11 years.
In May, 2010, the inflows had totalled $ 2.21 billion. For the April—May period of the current fiscal, the FDI went up by a huge 77 per cent to $ 7.78 billion from $ 4.39 billion in the corresponding period last year.