India’s overseas investment reduces by 71% in Nov

The Dollar Business Bureau

There has been a decrease in direct investments made by Indian firms abroad that reduced by 70.9 per cent year-on-year to $747.78 million in November 2016.

According to the data released by Reserve Bank of India (RBI), Indian firms had invested $2,573.35 million in their overseas ventures in November 2015. 

In the month of October 2016, however, saw the overseas investment by domestic companies standing at $2,106.18 million. The investments were a mix of issuance of guarantees ($255.97 million), loans (254.58 million) and equity ($237.23 million).

One of the companies that made overseas investment during the month included Greatship (India) which invested $133.8 million in its joint venture Greatship Global Energy Services in Singapore. Next in line was Palava Dwellers Pvt Ltd which invested $66.01 million in its wholly owned subsidiary Lodha Developers International (Netherlands).