India Inc's foreign investment fell 84% in August at $399 million

Mumbai: Indian firms' overseas direct investment fell 84 per cent to USD 399.06 million in August, data from RBI showed.

Indian companies had made an investment of USD 2.47 billion in the markets abroad during the same period last year.

Compare to July this year, direct investments in August were down by 82.6 per cent.

The investments were in the form of issuance of guarantees (USD 97.14 million), loans (146.36 million) and equity (USD 155.56 million).

Palava Dwellers Pvt Ltd was among the biggest investors, which invested 21.75 million in its wholly owned subsidiaries in Jersey, Mauritius and The Netherlands.

WNS Global Services invested USD 15.35 million in a joint venture in the UK, General Insurance Corporation infused USD 11.9 million in a wholly owned business in South Africa and Bharat Petroresources spent USD 15.15 million in a fully owned unit in the Netherlands.

Crompton Greaves invested USD 19.39 million in its joint venture in the Netherlands.