Indian firms' direct investment abroad in May up over 48%

Mumbai: Indian companies' direct investments overseas increased to $2.69 billion in May, which marked a rise of 48.2 per cent over the same month last fiscal, Reserve Bank of India data showed on Wednesday, even as official statistics showed India's trade deficit last month widened to its highest in three months. As per the RBI, Indian firms had invested $1.82 billion in their overseas ventures in May 2015. The overseas direct investment in May this year, "both under the Automatic Route and the Approval Route", was much lower than $4.11 billion in the preceding month of April. The investments by the Indian companies were made up of loans ($365.93 million), guarantees issued ($1.95 billion) and equity ($383.71 million), the statement added.

IANS