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Direct Investments By Indian Firms Abroad Drop

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Direct investments by Indian firms abroad fell by 58 per cent to $1.34 billion in November 2014 compared to the same month last year, as per RBI data.
 
Indian companies had invested $3.19 billion in their overseas ventures in November 2013.
 
In October 2014, Indian companies had invested $2.68 billion in overseas markets.
 
The investments were a mix of issuance of guarantees ($836.35 million), loan ($303.58 million) and of equity ($202.34 million).
 
Jindal Saw Holdings, JSW Steel, NCC Ltd, McLeon Russel, IDFC Securities, Crompton Greaves, Inox and Aurobindo Pharma were among the major investors.
 
Jindal Saw Holdings invested $142.96 million in its wholly-owned unit in the UAE, while JSW Steel made a total investment of $108.84 in three separate tranches in its joint ventures and fully-owned subsidiary in Chile, Mauritius and the US.
 
NCC Ltd invested $68.83 million in a wholly-owned firm in Oman, McLeod Russel $33.50 million in a fully-owned unit in the UK, IDFC Securities $30.08 million in a wholly-owned subsidiary in Singapore.
 
Crompton Greaves invested $25.12 million in a joint venture in the Netherlands, Inox India $25.63 million in two separate deals in a wholly-owned and a joint venture in the Netherlands and the US.
 
Aurobindo Pharma invested $20.97 million in wholly owned company in the Netherlands.
 
(PTI)


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