India Inc's foreign investment dips 44 per cent to USD 3.15 bn in April
Of the total outward direct investments during the month, USD 1.43 billion was through equities.
New Delhi: India Inc's investment in overseas ventures fell 44 per cent year-on-year to USD 3.15 billion in the first month of the current fiscal. In April 2016, Indian firms had invested USD 5.61 billion overseas.
However, investments on month-on-month basis in April were higher than the March's USD 2.99 billion, showed the data from Reserve Bank.
Of the total outward direct investments during the month, USD 1.43 billion was through equities. Rest USD 1.01 billion was in the form loans and USD 709.68 million as part of issuance of guarantee.
Among major investors, Piramal Enterprises invested a total of USD 506.94 million through joint ventures and wholly owned subsidiaries in the Netherlands and the USA.
Cadila healthcare invested USD 133.01 million through various wholly-owned units and joint ventures in Germany, UAE and the US.
Telecom major Bharti Airtel parked USD 450 million in a fully-owned unit in Mauritius, showed the data.