India Inc's foreign investment down 3% to $1.86 bn in June

MUMBAI: Direct investments by Indian firms abroad fell by 3.2 per cent year-on-year to $1.86 billion in June this year, according to RBI data.

Indian companies had invested $1.92 billion in their overseas ventures in June 2015.

In May 2016, Indian firms had invested $2.69 billion as overseas investment.

The investments were in the form of issuance of guarantees ($1 billion), loans (246.51 million) and equity ($610.87 million).

The prominent investors overseas during the month include Tata Communications $483 million in a fully-owned subsidiary in Mauritius and Strides Acrolab Ltd which committed $130.16 million in the wholly-owned subsidiary in Singapore.

Tata Communications also invested $67 million in two separate wholly-owned units in Singapore.