Overseas investment by Indian firms at USD 2.28 bn in Nov

Overseas direct investment by Indian companies rose to USD 2.28 billion in November against USD 1.22 billion in the previous month, according to the RBI data released on Thursday.

JSW Steel, REi Agro, Larsen & Toubro, Pearl Global Industries, Dr Reddy's, TCS and TAFE Motors and Tractors were among the major investors which put money into their foreign units during the month.

JSW Steel invested a total USD 444.27 million in its wholly-owned subsidiary in the Netherlands and in a US-based joint venture.

REI Agro made an investment of USD 227.63 million in its wholly owned company in the United Arab Emirates which is into manufacturing.

Construction major Larsen & Toubro invested USD 160.80 million in its wholly owned unit in the UAE for business in financial services.

Pearl Global Industries, in two different investments, put USD 109.82 million into its wholly owned units in Bangladesh and Mauritius for retail, wholesale and hotel business.

Pharma firm Dr Reddy's invested USD 105 million in its wholly owned manufacturing business in Cyprus and Tata Sons made an investment of USD 89.60 million in wholly owned wholesale, retail trade and hotels business in the UK.

IT behemoth TCS invested USD 75.70 million in its wholly owned venture in the UK and Tafe Motors and Tractors made an investment of USD 57.79 million in a joint-venture in the US, according to the RBI data.