India Inc invests $2.27 bn overseas in March, down 59%

JSW Steel invested a total of $47.77 mn in four separate ventures based in Chile, Mauritius, The Netherlands and the US

Foreign direct investment (FDI) made by the Indian industry in the overseas markets fell 59 per cent to $2.27 billion last month. Indian firms had made FDI of $5.47 billion in March last year. In February of this year, FDI stood at $2.51 billion.

According to a Reserve Bank of India release on Wednesday, of the total FDI by Indian companies last month, $1.50 billion consisted of guarantees issued, $214.3 million was in the form of loan and the rest $559.1 million went into equities.

Reliance Energy Generation & Distribution invested $270.4 million in its wholly owned unit in Mauritius, Infosys Ltd $214.6 million in the US while Reliance Industries Ltd invested $121.1 million in Singapore. JSW Steel invested a total of $47.77 million in four separate ventures based in Chile, Mauritius, the Netherlands and the US.

Jasper Infotech Pvt Ltd, the owner of Snapdeal, made an investment of $43.72 million in a joint venture based in Singapore.