Mumabi: Overseas investments by Indian companies in July was $2.69 billion, with Tata Steel, Crompton Greaves and Glenmark, among the leader players committing investments abroad.
The FDI outflows last month is almost half of $5.47 billion outflow in June. According to an RBI data released on Tuesday, as many as 289 overseas investment transactions were carried out by various companies last month, with Sanmar Group International leading the pack.
It has committed $67.65 million in its Switzerland based wholly-owned subsidiary (WoS), Sanmar Group AG, engaged in financial, insurance, real estate and business services.
Tata Steel has committed $54.63 million in its Singapore based WoS. The subsidiary, Tata Steel Asia Holdings Pte, is also engaged in financial, insurance, real estate and business services, the data said.
Crompton Greaves investments in its WoS based in Mauritius amounted to $43.19 million. The WoS is engaged in similar business as that of Tata's in Mauritius and Sanmar Group's WoS in Switzerland.
As per the data, Glenmark Pharmaceuticals has committed an investment of USD 55.47 million in July its Switzerland based manufacturing WoS, Glenmark Holdings SA.
In the first four months of this fiscal (April-July), outward FDI stood at $13.26 billion.
While Indian companies are spreading their overseas footprints, the FDI inflows in the April-May (latest data available), too, went up by a huge 77 per cent to $7.78 billion from $4.39 billion in the corresponding period last year.
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