Outward Foreign Direct Investments (OFDI) by Indian firms abroad fell 21 percent to $2,276.17 million in October 2015. The Reserve Bank of India has reported that during the month Indian companies had put in $2,276.17 million in the form of OFDI compared to $ 2,879.58 million in the month of October 2014. However compared to previous month of $1,241.33 million, it was up by huge 83.87 percent. RBI has further elaborated that in the OFDI of $$2,276.17 million for October, equity constituted $341.82 million, Loan constituted $210.94 million, while the major portion was of $1,723.41 million of Guarantee Issued.
Altogether 461 Indian parties were involved in outward FDI from the country during the month. Lupin invested $753 million in a wholly owned subsidiary (WOS) in Switzerland, Tata Communications invested $ 210 million in a WOS in Singapore and Infosys made a combined investment of $ 106.34 million in two of its wholly owned units in Sweden and Switzerland.
Among others, Sintex Holdings made an investment of $ 102.5 million in a WOS in Netherlands, Mahindra Holidays & Resorts India put in $60.27 million in a WOS in Mauritius and Tata Chemicals invested $ 54 million in a fully-owned bio-energy unit in Mauritius. JSW Steel invested a total of $ 43 million in two wholly-owned units in Mauritius and Netherlands and one joint venture in the US. Essel Propack committed $ 40.04 million in a wholly-owned company in Mauritius.
