Kolkata:
India Inc's overseas investment has risen marginally to $2.7 billion in March compared to February's $2.4 billion amid the Covid-19 pandemic that has brought global economy to standstill.
Among major
equity investments was ONGC Videsh's $62 million infusion in a Russian joint venture Sakhlin Oil Field project.
ONGC Videsh has also pumped in another $7.24 million in an agriculture and mining joint venture in Mozambique.
Alembic Pharmaceuticals invested $16.5 million in its wholly owned subsidiary in the US.
Total overseas equity investment by Indian companies dipped by about a third to $537 million in March compared with $1.8 billion in the year ago period. It was $539 million in February, this year.
Loans to overseas companies were $830 million compared with $536 million while India companies issued guarantees worth $1.3 billion compared with $1.8 billion over the same period, RBI data showed.