India’s Outward FDI Halves To $5.47 Billion In June .

Overseas investments by Indian companies halved to $5.47 billion in June, while Mundra Port and Bharti Airtel emerged as the top players in committing investments abroad.

Outward flows totalled $12.27 billion in June 2010.

In the first three months of this fiscal (April-June), outward FDI stood at $10.57 billion. This is much lower than $18.26 billion recorded in the June quarter of 2010-11.

As per the RBI data released on Tuesday, Indian firms issued financial guarantees worth $3.9 billion, loans worth $937 million and contributed $641.37 million towards equities.

Mundra Port and SEZ extended a guarantee of $2.25 billion to its wholly-owned subsidiary Mundra Port PTY Ltd in Australia, the RBI said. The subsidiary is engaged in construction activities.

Telecom major Bharti Airtel made overseas investments worth $494.5 million through three separate deals last month. The total investment was spread across the Netherlands ($140 million), Singapore ($350 million) and Mauritius ($4.5 million).

As per the RBI data, the other major players include, RHC Holding Private Ltd (Mauritius), Suzlon Energy (Mauritius) and Aurbindo Pharma (U.S.).

While FDI outward data is available for the first quarter, latest figures for inward foreign direct investment is only till May.

FDI inflows saw a whopping 111 per cent increase in May at $4.66 billion, the second highest monthly inflows in 11 years.

In May 2010, the inflows had totalled $2.21 billion.

For the April-May period of the current fiscal, the FDI went up by a huge 77 per cent to $7.78 billion from $4.39 billion in the corresponding period last year.

Source : thehindu.com