Indian firms’ foreign investment fell 84% in August at $399 million

Mumbai: Indian firms’ overseas direct investment fell 84% to $399.06 million in August, data from Reserve Bank of India showed.

Indian companies had made an investment of $2.47 billion in the markets abroad during the same period last year. Compared to July this year, direct investments in August were down by 82.6%. The investments were in the form of issuance of guarantees ($97.14 million), loans ($146.36 million) and equity ($155.56 million).

Palava Dwellers Pvt. Ltd was among the biggest investors, which invested 21.75 million in its wholly owned subsidiaries in Jersey, Mauritius and The Netherlands. WNS Global Services invested $15.35 million in a joint venture in the UK, General Insurance Corp. infused $11.9 million in a wholly owned business in South Africa and Bharat PetroResources spent $15.15 million in a fully owned unit in the Netherlands. Crompton Greaves invested $19.39 million in its joint venture in the Netherlands.