Overseas direct investment by Indian companies fell by 30 per cent to $1.36 billion in September over the previous month, as per the RBI’s data on overseas direct investment, both under automatic route and the approval route, for the month of September 2012. The domestic firms invested a sum of $1.95 billion in August.
A total of 406 deals took place during September by the Indian companies to carry out the outward foreign direct investment. Meanwhile, companies namely Bharti Airtel, JK Cement, Dr Reddy's emerged among the major investors.
Telecom major, Bharti Airtel invested $150.02 million in it’s wholly- owned venture in Mauritius, which is involved in transport, storage and communication services. While, major cement manufacturer J K Cement made an investment of $104.30 million in its wholly-owned subsidiary in United Arab Emirates. Last but not the least, drug maker Dr Reddy's Laboratories invested $58.97 million in its wholly-owned company in Cyprus.