India Inc invests $2.74 bn overseas in Nov

MUMBAI: Overseas investments by Indian companies in November stood at $ 2.74 billion, with retail major Fab India and diversified player Samvardhana Motherson group emerging as major investors.

FDI last month was 33 per cent more than $ 2.06 billion in October, according to the RBI data released today.

As many as 373 overseas investment transactions were carried out by various companies in November.

Fab India committed $ 680.48 million in its UK-based joint venture -- East Ltd -- which is engaged in retail, wholesale and hospitality services.

Samvardhana Motherson Polymers committed $ 556.08 million in its Netherlands-based wholly owned subsidiary (WoS), engaged in manufacturing services.

Cox and Kings India committed $ 194.81 million in its UK-based WoS -- Prometheon Holdings (UK) Ltd -- which is engaged in transport, storage and communications services.

It also made five other investments worth over $ 15 million in its WoSs, based in the US, Singapore, UK and Japan.

Among public sector companies, ONGC Videsh Ltd committed $ 42.34 million in its Russia JV, Sahalin Oil Field Project.

In the first eight months of the current fiscal (April-November), the outward FDI reached $ 23.81 billion.

While Indian companies are expanding overseas footprint, the FDI inflows during the April-September period (latest data available), too, went up by 74 per cent to $ 19.13 billion, from $ 11 billion in the same period last year.