India Inc's overseas investment up 58% at $2.19 billion in August

MUMBAI: Total investments by Indian firms overseas rose by 58.6 per cent to $2.19 billion in August this year over the same month last year, according to Reserve Bank data released today.

Indian companies had invested $1.38 billion in their overseas ventures in August 2014. In July 2015, Indian companies had invested $1.23 billion in overseas markets.

The investments were a mix of issuance of guarantees ($1.83 billion), loan ($177.19 million) and of equity ($184.08 million).

Among major investors, Essar Steel India invested $586.35 million in a wholly owned subsidiary in Mauritius engaged in manufacturing.

Sun Pharmaceutical Industries $455 million in a joint venture in Mauritius, Biocon Ltd a total of $440.04 million in two separate tranches in a wholly owned unit in UAE and a joint venture in Malaysia.

Shree Renuka Sugars invested $70 million in a wholly owned subsidiary in UAE engaged in wholesale, retail trade, restaurants and hotels business.