Indian companies’ foreign investments jumped 2-fold to $3 billion in March

By Selene 0

Mumbai:Foreign direct investment by Indian companies in their overseas ventures jumped over two- fold to $ 2.99 billion last month.

Indian firms had made investments of $ 1.42 billion in their overseas joint-ventures/subsidiaries in March last year. Investments in March this year were much higher than the preceding month, February, at $ 867.53 million, the Reserve Bank data showed on Tuesday.

Their investments came in the form of $ 1.99 billion in equities, loans of $ 742.60 million and issuance of guarantee worth $ 251.40 million. Major investors include Bharti Airtel at $ 765.20 million and Tata International Ltd, at $ 79.22 million. ONGC Videsh Ltd invested $ 75.49 million whereas WNS Global Services’ investment was $ 53.78 million.

First Published: Tue, Apr 18 2017. 04 02 PM IST