Indian firms foreign investment down 84% to $399 million in August

Indian firms' overseas direct investment fell 84% to $399.06 million (nearly Rs 2,654.85 crore) in August, data from Reserve Bank of India (RBI) showed.

Indian companies had made an investment of $2.47 billion (nearly Rs 16,432.29 crore) in the markets abroad during the same period last year.

Compare to July this year, direct investments in August were down by 82.6%.

The investments were in the form of issuance of guarantees ($97.14 million or nearly Rs 646.25 crore), loans ($146.36 million or nearly Rs 973.7 crore) and equity ($155.56 million or nearly Rs 1,034.90 crore).

Palava Dwellers was among the biggest investors, which invested $21.75 million (nearly Rs 144.7 crore)  in its wholly-owned subsidiaries in Jersey, Mauritius and the Netherlands.

WNS Global Services invested $15.35 million (nearly Rs 102.12 crore) in a joint venture in the UK, General Insurance Corporation infused $11.9 million (nearly Rs 79.2 crore) in a wholly-owned business in South Africa and Bharat Petroresources spent  $15.15 million (nearly Rs 100.8 crore) in a fully-owned unit in the Netherlands.

Crompton Greaves invested $19.39 million (nearly Rs 128.9 crore) in its joint venture in the Netherlands.