Direct investment abroad by firms up 48% in May

MUMBAI: Direct investment by Indian firms overseas increased by 48.2% year-on-year to $2.69 billion in May, against $1.82 billion in the same period last year, according

MUMBAI: Direct investment by Indian firms overseas increased by 48.2% year-on-year to $2.69 billion in May, against $1.82 billion in the same period last year, according to Reserve Bank of India data. However, overseas direct investment in May was much lower than $4.11 billion in April this year. Investment by companies were a mix of issuance of guarantees ($1.95 billion), loans ($365.93 million) and equity ($383.71 million).

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