Indian firms foreign investment dips 62 pc in Apr

Direct investments by Indian firms abroad fell by 62 per cent to USD 2.23 billion in April 2015 compared to that of USD 5.83 billion in the same month last year.
The investments in April 2015 were a mix of issuance of guarantees (USD 1.49 billion), loan (USD 566.80 million) and of equity (USD 178.45 million), according to the RBI data released today.
Among major Indian companies that invested abroad were Binani Industries (USD 295.1 million) and Jasper Infotech Pvt, the owner of e-commerce major Snapdeal that invested USD 248.75 million in a joint venture based in Singapore.
IL&FS Transportation Networks Ltd invested USD 189.16 million in Singapore and Spain; GMR Airports Ltd USD 145 million in Mauritius; Oil India Ltd at USD 100.39 in various ventures in the US, Mozambique and the Netherlands.

Also, Tata Consultancy Ltd invested USD 61.91 million in its wholly-owned units in the UK and Uruguay and The Indian Hotels Co Ltd made an investment of USD 72.34 million in the US.
In March 2015, Indian firms had invested USD 2.27 billion in their overseas ventures.