India Inc invests $2.27 billion overseas in March, down 59%

Mumbai: Foreign Direct Investment made by Indian industry in the overseas markets fell 59 percent to USD 2.27 billion last month.

Indian firms had made FDI of USD 5.47 billion in March last year. In February of this year FDI stood at USD 2.51 billion.

According to Reserve Bank release Wednesday, of the total FDI by Indian companies last month, USD 1.50 billion consisted of guarantees issued, USD 214.39 million was in the form of loan and rest of USD 559.16 million went into equities.

Reliance Energy Generation & Distribution invested USD 270.45 million in its wholly owned unit in Mauritius, Infosys Ltd USD 214.65 million in the US, and Reliance Industries Ltd USD 121.16 million in Singapore.