India Inc invests $ 5.03 billion overseas in June, up 61 per cent on year

MUMBAI: Overseas direct investment by Indian firms rose by over 60.7 per cent year-on-year to $ 5.03 billion in June 2014, according to RBI data.

Investment abroad by Indian firms were at $ 3.13 billion in June 2013.

The Indian companies, however, invested a much lower $ 1.59 billion in overseas markets in the previous month May 2014.

These investments were a mix of issuance of guarantees ($ 4.58 billion), loan ($ 322.91 million) and equity ($ 131.42 million).

India's largest telecom services provider in terms of revenue, Bharti Airtel, invested a total of $ 4.23 billion in two separate tranches in its joint-ventures in the Netherlands ($ 4.13 billion) and Singapore ($ 100 million).

Godrej Consumer Products invested $ 81.25 million in a wholly-owned unit in Mauritius in two separate tranches.

Larsen & Toubro invested $ 54.52 million in a joint venture in Saudi Arabia, Indian Oil Corporation $ 38 million in a wholly owned unit in the Netherlands.

Tata Consultancy Services $ 26.58 million in a wholly- owned company in the UK and Navaguga Engineering made an investment in a joint venture in Doha to the tune of $ 23.64 million.