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Indian firms' overseas investments down 46% to $1.12 bn in June

ONGC Videsh invested $118.68 mn in host of joint ventures and fully owned units in various locations

Press Trust of India  |  Mumbai 

Indian firms' overseas investments down 46% to $1.12 bn in June

by Indian firms abroad plunged by 46 per cent to $1.12 billion in June this year, according to the RBI data. They had invested $2.07 billion in their overseas ventures in June last year. In previous month, May 2017, the investment figure stood at $1.26 billion. The made last month were a mix of issuance of guarantees ($370.11 million), loans (178.80 million) and equity ($568.34 million). The prominent investors overseas in June included Indian Oil, investing a combined $284.28 million in a joint venture and fully owned subsidiary in Mayanmar and Singapore respectively. (OVL) invested $118.68 million in a host of joint ventures and fully owned units in various locations. Motherson Sumi System pumped in $89.30 million in a joint venture in the UK.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, July 24 2017. 17:34 IST
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