Outward FDI by Indian cos in June falls 35.7% to USD 1.71 bn

MUMBAI: Overseas direct investment by Indian companies fell 35.7 per cent to USD 1.71 billion in June, data from the Reserve Bank showed today.

Indian companies had invested USD 2.67 billion in June 2012 through the outward foreign direct investment route, the data showed. In May, domestic companies had invested USD 1.83 billion overseas.

Larsen & Toubro invested USD 268.85 million in two separate tranches in its joint venture in Saudi Arabia.

Bharti Airtel invested USD 171.25 million in three tranches in subsidiaries in Mauritius, the Netherlands and Singapore.

Eureca Forbes made an investment of USD 58.39 million in its wholly owned unit in the United Arab Emirates.

Glenmark Generics invested USD 54.80 million in its wholly owned subsidiary in Switzerland and Knowledge Infrastructure Systems made and investment of USD 41.3 million in its wholly owned unit in Singapore.

Manipal Health Systems invested USD 45.71 million in its joint venture in Singapore and Tafe Motors and Tractors invested USD 31.05 million in a joint venture in the US.