India Inc's overseas investment grows 27% to $2 billion in November

MUMBAI: Direct investments by Indian firms abroad surged 27.4 per cent year on year to USD 2 billion in November 2015, data from the Reserve Bank showed today.

Indian companies had invested USD 1.57 billion in their overseas ventures in November 2014.

In October 2015, the figure stood at USD 2.28 billion.

The investments were a mix of issuance of guarantees (USD 1.43 billion), loan (USD 412.97 million) and equity (USD 153.84 million).

The prominent investors overseas during the month include the Indian Hotels Company, committing USD 115.56 million in the wholly-owned subsidiary in the Netherlands.

Crompton Greaves made an investment of USD 66.97 million in a joint venture in the Netherlands, JSW Steel USD 24.14 million in a US JV and Navaguga Engineering USD 22.56 in a joint entity in Qatar.