Indian cos put $1.4 bn in overseas JVs, arms

Indian companies invested $1.45 bln in their overseas joint ventures and subsidiaries in December, higher than $1.06 bln in the previous month, according to data released by the Reserve Bank of India.

In the year-ago period, Indian companies had invested $2.51 bln in their overseas joint ventures and subsidiaries.

Of the total investments in December, $775.41 mln was in equity, $382.91 mln in debt, and $287.63 mln in guarantees.

In October-December, Indian companies invested highest in US at $706.59 mln, followed by Mauritius and Singapore at $693.87 mln and $499.92 mln, respectively, Reserve Bank of India said.