Indian firms’ overseas direct investment fell 84 per cent to $399.06 million in August, data from RBI showed. Indian companies had made an investment of $2.47 billion in the markets abroad during the same period last year. Compare to July this ear, direct investments in August were down by 82.6 per cent.
The investments were in the form of issuance of guarantees ($97.14 million), loans (146.36 million) and equity ($155.56 million). Palava Dwellers Pvt ltd was among the biggest investors, which invested 21.75 million in its wholly owned subsidiaries in Jersey, Mauritius and The Netherlands.