India Inc invested USD 5.58 billion in overseas markets in April

MUMBAI: Overseas direct investment by Indian companies stood at USD 5.58 billion in April 2014, much lower than in the year-ago period.

The FDI by companies was USD 15.24 billion in April, 2013, the data of the Reserve Bank of India showed today.

The overseas FDI during the month under consideration consisted of USD 1.15 billion on equity, USD 268.16 million on loan and USD 4.16 billion were through issuance of guarantees.

Telecom major Bharti Airtel, Elder Pharmaceuticals, Haldia Coke and Serum Institute were among the major companies that made investment in foreign markets in the month.

Bharti Airtel issued guarantee of USD 2.11 billion and USD 55 million in its joint venture and a wholly-owned unit in the Netherlands and Singapore respectively.

Elder Pharmaceuticals had commitment of USD 1.3 billion in the form of loans in its wholly owned subsidiary in the United Arab Emirates.

Among others, Haldia Coke and Chemicals had overseas investment of USD 2.14 billion by way of raising loans in its wholly owned unit in the US.

While Serum Institute of India raised guarantee of USD 71.96 million in the company's wholly owned subsidiary in the Netherlands.

Alok Industries had total commitment of USD 247.61 million in three different tranches in a mix of loans and guarantee.