Outward FDI by Indian companies in June falls 35.7 per cent to $1.71 billion

Overseas direct investment by Indian companies fell 35.7 per cent to $1.71 billion in June, Reserve Bank data showed on Friday.

Indian companies had invested $2.67 billion in June 2012 through the outward foreign direct investment route, the data showed. In May, domestic companies had invested $1.83 billion overseas.

Larsen & Toubro invested $268.85 million in two separate tranches in its joint venture in Saudi Arabia.

Bharti Airtel invested $171.25 million in three tranches in subsidiaries in Mauritius, the Netherlands and Singapore.

Eureca Forbes made an investment of $58.39 million in its wholly owned unit in the United Arab Emirates.

Glenmark Generics invested $54.80 million in its wholly owned subsidiary in Switzerland and Knowledge Infrastructure Systems made and investment of $41.3 million in its wholly owned unit in Singapore.

Manipal Health Systems invested $45.71 million in its joint venture in Singapore and Tafe Motors and Tractors invested $31.05 million in a joint venture in the US.