Overseas investments by Indian firms fall to $1.24 bn in Sep

Overseas investments or the outward foreign direct investment by Indian firms more than halved to USD 1.24 billion in September.
It was USD 3.12 billion during the same month a year ago, RBI data showed today.
In August 2015, the outward foreign direct investment by Indian companies stood at USD 2.19 billion.
Outward foreign direct investment in September, 2015 was in the form of equity, loan and issue of guarantee.
Out of the total USD 1.24 billion invested abroad, USD 137.25 million was invested in equity, USD 365.83 million through loans and USD 738.25 million in the form of issue of guarantee.

Major investors overseas during the month included Ultratech Cement in Middle East (USD 234.39 million), Tata Power Company Ltd in Singapore (USD 90 million) and Tata Communications in Singapore (USD 67.95 million).
Other investors include WNS Global Services in UK (USD 25.48 million) and Zensar Technologies Ltd in the US (USD 20.5 million).