Signaling lower spending, India Inc’s foreign direct investment (FDI) dropped 14.82 per cent to $1339.26 million during August 2017 from $1572.23 million in the same month of last year. The outward foreign direct investment declined 24.25 per cent in August 2017 as compared to $1768.02 million in July 2017.
According to the data released by the Reserve Bank of India, of the total investments in foreign ventures by Indian companies overseas, $944.14 million was in the form of issuance of guarantees, $184.44 million as loan and $210.68 million was part of equity investment.
Of all leading investors, Wipro put in $500 million into a wholly owned unit in the US, while Sintex–BAPL invested $102.50 million in a joint venture in Netherlands. Besides, Tata Communications invested $78.75 million in a wholly owned subsidiary in Singapore and ONGC Videsh invested $55.54 million in various joint ventures in Myanmar, Russia and Vietnam.