India's outward FDI halves to $5.47 bn in June

Overseas investments by Indian companies halved to $5.47 billion in June, while Mundra Port and Bharti Airtel emerged as the top players in committing investments abroad.

Outward flows totalled $12.27 billion in June 2010.

In the first three months of this fiscal (April-June), outward FDI stood at $10.57 billion. The is much lower than $18.26 billion recorded in the June quarter of 2010-11.

As per the RBI data released today, Indian firms issued financial guarantees worth $3.9 billion, loans worth $937 million and contributed $641.37 million towards equities.

Mundra Port and SEZ extended a guarantee of $2.25 billion to its wholly-owned subsidiary Mundra Port PTY Ltd in Australia, RBI said. The subsidiary is engaged in construction activities.

Telecom major Bharti Airtel made overseas investments worth $494.5 million through three separate deals last month. The total investment was spread across the Netherlands ($140 million), Singapore ($350 million) and Mauritius ($4.5 million).