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India Inc's overseas investment drops 56% in May

Dr Reddy's Laboratories invested $263 million in its wholly owned unit in Switzerland

Press Trust of India  |  Mumbai 

India Inc's overseas investment drops 56% in May

Inc's foreign investment witnessed a sharp 56 per cent decline at $1.26 billion in May this year. Indian had invested $2.84 billion overseas in the same month a year ago. The Indian businesses' foreign investment also saw a decline on monthly basis as compared to $3.15 billion in April 2017, a fall of 60 per cent, according to RBI data. Of the total financial commitment by Indian firms in their overseas ventures, $713.18 million was in form of issuance of guarantee, $161.74 million as loan while rest of $385.95 million was through equity infusion. Among major investors, pharma major Dr Reddy's Laboratories invested $263 million in its wholly owned unit in Videsh Ltd made a gross investment of $74.08 million in its joint ventures and a fully owned subsidiary in various locations across the globe. Among others, Coastal Power Ltd infused $32.25 million in a fully owned company in and $21.68 million in its wholly owned unit in Jersey. Wadhawan Global Captial $33.30 million and Jain Irrigation $30 million in their respective wholly owned subsidiaries in the UK and the Netherlands.

First Published: Thu, June 15 2017. 18:42 IST
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