Overseas investment by Indian companies declines to $1.94 bn in August

Investment made abroad by Indian companies have declined sharply to USD 1.94 billion in August from USD 3.24 billion in July, amid the Reserve Bank tightening norms for outbound investments by the domestic firms to contain rupee slide.

According to the media reports, ff the total investment made abroad in August, USD 1.41 billion was through guarantee issued, USD 381.37 million via loans and investment of USD 144.71 million was made through equity.

The RBI in mid-August had taken measures in a bid to save rupee from a free-fall and put curbs on Indian firms investing abroad besides reducing outward remittances.

Bharti Airtel, Tata Power Company, Financial Technologies, Essar Constructions Overseas and Reliance Industries were among the major investors that invested in their overseas units during the month.

Dion Global Solutions Ltd.

Story first published: Tuesday, September 17, 2013, 9:10 [IST]
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