India Inc's investment in overseas ventures drop 47% to $ 1.54 bn in Sep-18

• HDFC
• 05 Nov 2018
• Knowledge Centre

HDFC, Tester

Indian companies’ investment in their overseas ventures fell by 47% to US$ 1.54 billion in September 2018, according to Reserve Bank of India data. According to an article carried by a wire service, Indian companies had invested US$ 2.91 billion in their joint ventures (JVs) and wholly-owned subsidiaries abroad during September 2017.

 

In August 2018, the investment by domestic companies in overseas firms was just US$ 992.14 million. RBI data revealed the break-up of the total US$ 1.55 billion investment in September 2018.

 

• US$ 950.82 million was in the form of loans, 
• US$ 251.84 million was infused as equity capital, and 
• US$ 352.08 million was through the issuance of a guarantee.

 

The report stated that major investors included:

 

• UPL: Invested in US$ 408.12 million in its wholly-owned subsidiary in Mauritius, 
• Sanmar Group International: Invested US$ 77.55 million in WoS in Switzerland,
• JSW Steel: Invested in US$ 74.87 million in five tranches in its wholly-owned unit and joint ventures located in the US, Italy, and Chile,
• KEC International: Invested US$ 71.35 million in a JV in Saudi Arabia,
• ONGC Videsh Ltd: Invested US$ 59.37 million in its joint-ventures in Russia and Vietnam and,
• Sage Metals: Invested US$ 33.50 million in a wholly-owned unit in the US.