India Inc's foreign investment dips 44% to $3.15 bn in April

India Inc's investment in overseas ventures fell 44 per cent year-on-year to $3.15 billion in the first month of the current financial year (FY).

In April 2016, Indian firms had invested $5.61 billion overseas.

However, investments on month-on-month basis in April were higher than the March's $2.99 billion, showed the data from Reserve Bank of India.

Of the total outward direct investments during the month, $1.43 billion was through equities.

Rest $1.01 billion was in the form loans and $709.68 million as part of issuance of guarantee.

Among major investors, Piramal Enterprises invested a total of $506.94 million through joint ventures and wholly owned subsidiaries in the Netherlands and the USA.

Cadila healthcare invested $133.01 million through various wholly-owned units and joint ventures in Germany, UAE and the US.

Telecom major Bharti Airtel parked $450 million in a fully-owned unit in Mauritius, showed the data.