India Inc's overseas investment plunges 71% to $747 million in November

MUMBAI: Direct investments by Indian firms abroad plunged by 70.9 per cent year-on-year to USD 747.78 million in November 2016.

Indian firms had invested USD 2,573.35 million in their overseas ventures in November 2015, RBI data released today showed.

In previous month October 2016, the overseas investment by domestic companies stood at USD 2,106.18 million.

The investments were a mix of issuance of guarantees (USD 255.97 million), loans (254.58 million) and equity (USD 237.23 million).

Of the major overseas investors during the month included Greatship (India) USD 133.8 million in its joint venture Greatship Global Energy Servcies in Singapore and Palava Dwellers Pvt Ltd USD 66.01 million in its wholly owned subsidiary Lodha Developers International (Netherlands).