Indian companies treble overseas investments to $7.64bn in April

Indian companies more than trebled their overseas direct investments to $7.64 billion in April, from $1.89 billion in March, data released by the Reserve Bank of India (RBI) today showed.

This included equity participation to the tune of $1.353 billion, loans amounting to $228.1268 million, guarantees issued to the tune of $6.056 billion (totaling $7.638 billion).

Indian companies carried out about 499 foreign direct investment deals during the first month of the current financial year, RBI data showed.

Among major investors were Bharti Airtel, ONGC Videsh, Suzlon Energy, GMR Infrastructure, Amtek Auto and Tractors and Farm Equipment.

Bharti Airtel committed the highest amount of $3.35 billion in its joint venture in the Netherlands involving the business of transport, storage and communication services.

ONGC Videsh Limited invested $813.52 million in its joint venture in Azerbaijan and $70.08 million in its wholly-owned unit in Cayman Island.

Suzlon Energy made an investment of $674.79 million in its wholly owned subsidiary in The Netherlands.

GMR Infrastructure invested $306.93 million in its wholly-owned unit in Mauritius and Amtek Auto made an investment of $286.72 million in two separate projects in Germany and Singapore.

Tractors and Farm Equipment made an investment of $89.8 million in two separate entities in China and the US.