Indian companies’ foreign investments jumped 2-fold to $3 billion in March
- Election Results 2017 highlights: BJP wins in Gujarat, trounces Congress in Himachal
- Gujarat election results: BJP loses in Modi’s hometown Vadnagar
- Gross NPAs of banks cross Rs8.5 trillion in 1st half of this fiscal
- HPCL asks Airtel to transfer LPG subsidies to bank accounts
- Prem Kumar Dhumal, common man’s leader, loses by 3,500 votes
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.