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India Inc’s investment in overseas ventures drop 47 per cent to $1.54 billion in September

Indian companies’ investment in their overseas ventures fell by 47 per cent to USD 1.54 billion in September 2018, Reserve Bank data showed. Indian companies had invested USD 2.91 billion in their joint ventures (JVs) and wholly-owned subsidiaries (WoS) abroad during September 2017. In August, the investment by domestic companies in overseas firms was a mere USD 992.14 million. Of the total USD 1.55 billion investment in September, USD 950.82 million was in the form of loans, USD 251.84 million was infused as equity capital and USD 352.08 million was through issuance of guarantee, RBI data on outward foreign direct investment (OFDI) showed.

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