Indian companies invested 15% less in foreign ventures in May

Direct investments by Indian companies in foreign ventures fell 15.2% to US $1.51 billion in May 2015 from US $1.78 billion in the same month last year.

The investments in April 2015, which came in at US $2.23 billion, were a mix of issuance of guarantees (US $1.06 billion), loan (US $235.13 million) and equity (US $219.56 million), RBI data showed today.

Among major Indian companies that invested abroad are Firstsource Solutions (US $176.75 million), Wipro (US $138.67 million) and Godrej Consumer Products (US $132.89 million).

The corresponding figure for Piramal Enterprises stood at US $54.85 million, while for Sterling and Wilson Pvt and Cairn India, it was US $49.62 million and US $41.7 million, respectively.