Total investments by Indian firms overseas rose by 58.6 percent to USD 2.19 billion in August this year over the same month last year, according to Reserve Bank data released on friday. Indian companies had invested USD 1.38 billion in their overseas ventures in August 2014. In July 2015, Indian companies had invested USD 1.23 billion in overseas markets.
The investments were a mix of issuance of guarantees (USD 1.83 billion), loan (USD 177.19 million) and of equity (USD 184.08 million). Among major investors, Essar Steel India invested USD 586.35 million in a wholly owned subsidiary in Mauritius engaged in manufacturing. Sun Pharmaceutical Industries USD 455 million in a joint venture in Mauritius, Biocon Ltd a total of USD 440.04 million in two separate tranches in a wholly owned unit in UAE and a joint venture in Malaysia.
Shree Renuka Sugars invested USD 70 million in a wholly owned subsidiary in UAE engaged in wholesale, retail trade, restaurants and hotels business.
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