JOIN USIndian companies' investments into their overseas subsidiaries/joint ventures fell by 63% to $1.17 billion in May this year, according to RBI data.
In May 2017, India Inc's foreign direct investment stood at $3.12 billion.
In April 2018, the outward foreign direct investment (OFDI) of Indian firms was $3.56 billion.
Of the total investment by domestic firms in overseas ventures in May 2018, $374.18 million was in the form of equity infusion, $162.96 million in loan and $630.45 million as guarantee issuances, as per Reserve Bank data.
Among the major companies that made investment in their overseas subsidiaries/joint ventures included Indiabulls Real Estate $368.09 million, ONGC $57.94 million, Tata Hitachi Construction Machinery $26.62 million and Wadhawan Global Captial $15.23 million.
Cumulatively, the overseas direct investment in first two months (April-May) of this fiscal stood at $4.73 billion.