India Inc overseas direct investment dip 29% to $2.11bn in Oct

Indian firms made direct investment of USD 2.11 billion in October, down 39.34 per cent from a year earlier, Reserve Bank data showed.
The overseas direct investment by the local firms stood at USD 3.47 billion in October 2015.
For month-on-month comparison, the Indian firms had made an investment of USD 2.48 billion in September 2016.
The investments in October were comprised of equity worth USD 1.51 billion, loan of USD 187.96 million and rest of USD 407.43 million were in the form of guarantee issued.
The major investments made overseas by the Indian firms included USD 622.01 million by Indian Oil Corporation in is wholly-owned subsidiaries in the Netherlands and Singapore.

Tata Communications invested USD 165.86 million in a fully owned unit in Singapore while Fortis Healthcare put in USD 133.63 million in a joint-venture firm in Mauritius.
RBI said the data is provisional and is subject to change based on online reporting by the agency banks.