India Inc’s foreign direct investment (FDI) fell by about 15 per cent to $1.34 billion in last month, according to the Reserve Bank data. The overseas investment by Indian companies in August last year ago stood at $1.57 billion.
The foreign investments were also down sequentially when compared with $1.77 billion July this year, showed the Outward Foreign Direct Investment (OFDI) data of RBI. The investment break-up included $944.14 million in the form of guarantees issued, $184.44 million and loan and $210.68 million as equity infusion.
Among major investors, Wipro ltd invested $500 million in a wholly owned unit in the US and Sintex-BAPl ltd, $102.50 million in a joint venture in Netherlands. Tata Communications invested $78.75 million in a wholly owned subsidiary in Singapore and ONGC Videsh ltd, $55.54 million in various joint ventures in Myanmar, Russia and Vietnam.