India Inc’s foreign investment doubles to $3.02 bn in Sept
13/10/2014 00:08
India Inc’s overseas direct investment more than doubled to USD 3.02 billion last month, according to the Reserve Bank data. Total investment abroad by Indian firms stood at USD 1.43 billion in September 2013, reported PTI. During August, the Indian companies had undertaken investments worth USD 1.25 billion in overseas markets. The investments were a mix of issuance of guarantees (USD 2.53 billion), loan (USD 257.60 million) and of equity (USD 232.59 million). Tata Steel, KEC International, Glenmark Pharmaceuticals, Videocon Industries, and Mercator were among the major investors overseas during the month. Tata Steel invested USD 1.88 billion in its wholly-owned unit in Singapore and Mercator made an investment of USD 45 million in its joint venture in Singapore. Videocon Industries made an investment of USD 22.06 million in a wholly owned unit in the Cayman Island, and KEC International $81.3 million in a wholly owned unit in Mauritius. Glenmark Pharmaceuticals invested USD 27.12 million in five separate tranches in its joint ventures and wholly owned subsidiaries in Egypt, Mexico, Nigeria, Venezuela and Switzerland.
13/10/2014 00:08
India Inc’s overseas direct investment more than doubled to USD 3.02 billion last month, according to the Reserve Bank data. Total investment abroad by Indian firms stood at USD 1.43 billion in September 2013, reported PTI. During August, the Indian companies had undertaken investments worth USD 1.25 billion in overseas markets. The investments were a mix of issuance of guarantees (USD 2.53 billion), loan (USD 257.60 million) and of equity (USD 232.59 million). Tata Steel, KEC International, Glenmark Pharmaceuticals, Videocon Industries, and Mercator were among the major investors overseas during the month. Tata Steel invested USD 1.88 billion in its wholly-owned unit in Singapore and Mercator made an investment of USD 45 million in its joint venture in Singapore. Videocon Industries made an investment of USD 22.06 million in a wholly owned unit in the Cayman Island, and KEC International $81.3 million in a wholly owned unit in Mauritius. Glenmark Pharmaceuticals invested USD 27.12 million in five separate tranches in its joint ventures and wholly owned subsidiaries in Egypt, Mexico, Nigeria, Venezuela and Switzerland.
