Direct investment abroad by India Inc up 48% in May at $2.7 bn

Direct investments by Indian firms overseas increased by 48.2 per cent year-on-year to USD 2.69 billion in May, according to the RBI data.
They had invested USD 1.82 billion in their overseas ventures in same month of last year.
However, the overseas direct investment in May was much lower than USD 4.11 billion in April this year.
The investments by the Indian companies were a mix of issuance of guarantees (USD 1.95 billion), loans (365.93 million) and equity (USD 383.71 million).
The prominent investors overseas during the month include Videocon Oil Ventures USD 204.08 million, Videocon Industries USD 145 million and Larsen & Toubro Ltd USD 144.48 million.

Among other major investors are JSW Steel USD 81.50 million and Bombay Burma Trading Corporation USD 66.3 million.