Foreign investment by Indian cos at $3.53bn in Jun
Led by Piramal Healthcare, foreign investments by Indian companies in June rose by 50.21% from the previous month to USD 3.53 billion despite a slowdown in the global economy.
July 19, 2012 / 09:06 IST
Led by Piramal Healthcare, foreign investments by Indian companies in June rose by 50.21% from the previous month to USD 3.53 billion despite a slowdown in the global economy.
The overseas investment by domestic firms was USD 2.35 billion in May. A total of 434 deals took place during the month by the Indian companies to carry out the outward foreign direct investment, according to RBI data released today.Piramal Healthcare, Bharti Airtel, Garware Offshores, Wipro, Venkateshwar Hatcheries and e-Clerx Services were among the major overseas investors during the month.Piramal Healthcare invested USD 1,350 million through its wholly-owned subsidiary in the US, which is engaged in the business of manufacturing.Telecom major Bharti Airtel invested USD 857 million via its joint-venture in the Netherlands. Transport, storage and communication services company
Garware Offshores Services invested USD 36.5 million through its wholly-owned unit in the Netherlands.Wipro Ltd made and investment of USD 36.2 million in Australia through its wholly owned subsidiary which is into financial, insurance, real estate and business services.Venkateshwar Hatcheries invested USD 24 million via its wholly owned unit in the United Kingdom. The company is engaged in the business of community, social and personal services.e-Clerx Services invested USD 24.4 million in a wholly owned unit based in British Virgin Islands. It offers financial, insurance, real estate and business services. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
