Overseas Investments by Indian Companies Surge in March
Indian companies made a significant mark in the global arena, with their overseas investments totaling $2.77 billion in March, a notable increase of 37.6% compared to the previous month. According to data released by the Reserve Bank of India, a total of 489 overseas investment transactions were carried out by various companies during the month.
Key Investors and Their Overseas Ventures
- Binani Industries: Invested $323.34 million in its two wholly-owned subsidiaries based in Luxembourg and the US. These subsidiaries are engaged in financial, real estate, and manufacturing services.
- Mercator Lines (Agriculture and Mining): Invested $150.15 million in Singapore through its joint venture, Mercator Offshore PTE.
- ABG Shipyard: Invested $80 million in Singapore through its wholly-owned subsidiary.
- HCL Technologies (India’s fourth-largest software exporter): Invested $60 million in Bermuda through its wholly-owned subsidiary, focusing on providing financial, insurance, and real estate solutions.
- Varun Shipping (Transport, Storage, and Communication): Invested $60 million via its joint venture in Cyprus.
- Hexaware Technologies: Invested $38.7 million through its wholly-owned subsidiary in Germany, offering financial, insurance, and real estate solutions.
- Tata Steel: Invested $35.5 million in Singapore through its wholly-owned unit.