FDI outflows in October at USD 2.06 bn

MUMBAI: Overseas investments by Indian companies in October stood at USD 2.06 billion, with Cox and Kings and Tata Communications emerging as the major investors.

The FDI outflows in last month were 40 per cent less than the USD 3.46 billion outflow in September.

According to the RBI data released today, as many as 330 overseas investment transactions were carried out by various companies in October.

Cox and Kings India committed USD 280.56 million in its UK-based wholly owned subsidiary (WoS)-- Prometheon Holdings (UK) Ltd -- which is engaged in transport, storage and communication services.

Cox and Kings India also made five other investments worth a total of over USD 8.05 million in its WoSs, based in Honk Kong, Singapore, the UK and Japan.

Tata Consultancy Services has committed USD 48.92 million in its UK-based join venture Diligenta Ltd. The subsidiary is engaged in community, social and personal services.

Another Tata Group firm, Tata Communications Ltd has committed USD 162.5 million in its Singapore-based WoS, VSNL International Pte, which is also engaged in transport, storage and communication services.

In the first seven months of this fiscal (April-October), the outward FDI stood at USD 21.07 billion.

While Indian companies are spreading their overseas footprints, the FDI inflows in the April-September (latest data available), too, went up by a huge 74 per cent to USD 19.13 billion from USD 11 billion in the corresponding period last year.