Indian companies’ foreign direct investments (FDI) outflow declined by 40% in the month of October to $2.06 billion compared to the $3.46 billion outflow in September, as per the data released by Reserve Bank of India (RBI). The RBI release also showed that as many as 330 overseas investment transactions were carried out by various companies in October and Cox and Kings and Tata Communications emerged as the major overseas investors.
Cox and Kings India, which committed $280.56 million in its UK-based wholly owned subsidiary (WoS)-- Prometheon Holdings (UK), also made five other investments worth a total of over $8.05 million in its WoSs, based in Honk Kong, Singapore, the UK and Japan. Also, Tata Consultancy Services has committed $48.92 million in its UK-based joint venture Diligenta while another Tata Group firm, Tata Communications committed $162.5 million in its Singapore-based WoS, VSNL International Pte.
In the period between April and October, the outward FDI stood at $21.07 billion. While Indian companies are spreading their overseas footprints, the FDI inflows in the April-September (latest data available), too, went up by a huge 74% to $19.13 billion from $11 billion in the corresponding period last year.
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