India's direct investment abroad down 58% to $1.34 billion in November

MUMBAI: Direct investments by Indian firms abroad fell by 58 per cent to USD 1.34 billion in November 2014 compared to the same month last year, as per RBI data.

Indian companies had invested USD 3.19 billion in their overseas ventures in November 2013.

In October 2014, Indian companies had invested USD 2.68 billion in overseas markets.

The investments were a mix of issuance of guarantees (USD 836.35 million), loan (USD 303.58 million) and of equity (USD 202.34 million).

Jindal Saw Holdings, JSW Steel, NCC Ltd, McLeon Russel, IDFC Securities, Crompton Greaves, Inox and Aurobindo Pharma were among the major investors.

Jindal Saw Holdings invested USD 142.96 million in its wholly-owned unit in the UAE, while JSW Steel made a total investment of USD 108.84 in three separate tranches in its joint ventures and fully-owned subsidiary in Chile, Mauritius and the US.

NCC Ltd invested USD 68.83 million in a wholly-owned firm in Oman, McLeod Russel USD 33.50 million in a fully-owned unit in the UK, IDFC Securities USD 30.08 million in a wholly-owned subsidiary in Singapore.

Crompton Greaves invested USD 25.12 million in a joint venture in the Netherlands, Inox India USD 25.63 million in two separate deals in a wholly-owned and a joint venture in the Netherlands and the US.

Aurobindo Pharma invested USD 20.97 million in wholly owned company in the Netherlands.