Indian cos' foreign investment rises to $7.64 bn in April

Foreign direct investment by Indian companies rose more than three times in April to $7.64 billion in April, from $1.89 billion in March, data from the Reserve Bank of India (RBI) showed on Thursday. The data published includes investments made under automatic as well as approval route.

In April, as many as 499 deals were carried out by Indian firms to carry out the outward foreign direct investment. Bharti Airtel, Oil and Natural Gas Corporation (ONGC) Videsh, Suzlon Energy, GMR Infrastructure, Amtek Auto and Tractors and Farm Equipment were among the major companies that invested in their foreign arms during the month.

Bharti Airtel invested $3.35 billion in its joint venture in Netherlands that is into the business of transport, storage and communication services. While ONGC Videsh Limited invested $813.52 million in its joint venture in Azerbaijan and $70.08 million in its wholly owned unit in the Cayman Islands.

Suzlon Energy made an investment of $674.79 million in its wholly owned subsidiary in Netherlands. GMR Infrastructure's investment was $306.93 million in its wholly-owned unit in Mauritius and Amtek Auto made an investment of $286.72 million in two separate projects in Singapore and Germany. Tractors and

Farm Equipment made an investment of $89.8 million in two separate entities in China and the US.

OVERSEAS STEPS

* In April, about 499 deals were carried out by Indian companies to carry out the outward foreign direct investment

* Bharti Airtel invested $ 3.35 billion in its joint venture in Netherlands

* ONGC Videsh Limited invested $ 813.52 million in its joint venture in Azerbaijan and $ 70.08 million in its wholly owned unit in the Cayman Islands

* Suzlon Energy made an investment of $ 674.79 million in its wholly owned subsidiary in Netherlands