India Inc invests $2.27 billion overseas in March, down 59%

MUMBAI: Foreign Direct Investment made by Indian industry in the overseas markets fell 59 per cent to $2.27 billion last month.

Indian firms had made FDI of $5.47 billion in March last year. In February of this year FDI stood at $2.51 billion.

According to Reserve Bank release today, of the total FDI by Indian companies last month, $1.50 billion consisted of guarantees issued, $214.39 million was in the form of loan and rest of $559.16 million went into equities.

Reliance Energy Generation & Distribution invested $270.45 million in its wholly owned unit in Mauritius, Infosys Ltd $214.65 million in the US, and Reliance Industries Ltd $121.16 million in Singapore.

JSW Steel invested a total of $47.77 million in four separate ventures based in Chile, Mauritius, The Netherlands and the US.

Jasper Infotech Pvt Ltd, the owner of e-kart firm Snapdeal made an investment of $43.72 million in a joint venture based in Singapore.