Overseas direct investment by Indian companies fell by nearly 37 per cent to $ 1.58 billion in December 2013 from the same month a year ago, as per the Reserve Bank data released today.
In December 2012, the overseas direct investment by the domestic firms stood at $2.50 billion and in November 2013, it was $2.28 billion.
Maharashtra Seamless, Tata Communications, Bharti Airtel, and Piramal Enterprises were among the major investors to put money in their overseas ventures during the month.
Maharashtra Seamless invested $145 million in its wholly-owned unit in Singapore and Mahindra & Mahindra invested USD 140 million in its wholly owned entity in Mauritius.
Tata Communications made an investment of $132.85 million in its wholly-owned venture in Singapore, while Shapoorji Pallonli & Company made an investment of $128.95 million in its joint-venture in the UAE.
Telecommunications company Bharti Airtel ltd made a total investment of $91.71 million in two separate tranches in its wholly owned unit in Mauritius and a joint-venture in the Netherlands.