India Inc's investment overseas down 15% to $1.34 billion in August

Mumbai: India Inc's foreign direct investment (FDI) fell by about 15 per cent to USD 1.34 billion in last month, according to the Reserve Bank data.

The overseas investment by Indian companies in August last year ago stood at USD 1.57 billion.

The foreign investments were also down sequentially when compared with USD 1.77 billion July this year, showed the Outward Foreign Direct Investment (OFDI) data of RBI.

The investment break-up included USD 944.14 million in the form of guarantees issued, USD 184.44 million and loan and USD 210.68 million as equity infusion.

Among major investors, Wipro Ltd USD 500 million in a wholly owned unit in the US and Sintex-BAPL Ltd USD 102.50 million in a joint venture in Netherlands.

Tata Communications invested USD 78.75 million in a wholly owned subsidiary in Singapore and ONGC Videsh Ltd USD 55.54 million in various joint ventures in Myanmar, Russia and Vietnam.