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Rediff.com  » Business » Overseas investment by Indian firms at $2.28 bn in Nov

Overseas investment by Indian firms at $2.28 bn in Nov

December 12, 2013 17:20 IST

DollarsOverseas direct investment by Indian companies rose to $2.28 billion in November against $1.22 billion in the previous month, according to the Reserve Bank of India data released on Thursday.

JSW Steel, REI Agro, Larsen & Toubro, Pearl Global Industries, Dr Reddy's, TCS and Tafe Motors and Tractors were among the major investors which put money into their foreign units during the month.

JSW Steel invested a total $444.27 million in its wholly-owned subsidiary in the Netherlands and in a US-based joint venture.

REI Agro made an investment of $227.63 million in its wholly owned company in the United Arab Emirates which is into manufacturing.

Construction major Larsen & Toubro invested $160.80 million in its wholly owned unit in the United Arab Emirates for business in financial services.

Pearl Global Industries, in two different investments, put $109.82 million into its wholly owned units in Bangladesh and Mauritius for retail, wholesale and hotel business.

Pharma firm Dr Reddy's invested $105 million in its wholly owned manufacturing business in Cyprus and Tata Sons made an investment of $89.60 million in wholly owned wholesale, retail trade and hotels business in the UK.

IT behemoth TCS invested $75.70 million in its wholly owned venture in the UK and Tafe Motors and Tractors made an investment of $57.79 million in a joint-venture in the US, according to the RBI data.

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