During April, overseas direct investment by Indian companies trebled to $7.64 billion, from $1.89 billion in March. As many as 499 deals were carried out by the Indian companies during the first month of the current fiscal to carry out the outward foreign direct investment, data from the Reserve Bank showed on June 13. Bharti Airtel, ONGC Videsh, Suzlon Energy, GMR Infrastructure, Amtek Auto and Tractors and Farm Equipment were among the major companies that invested in their overseas arms during the month.
With $3.35 billion Bharti Airtel committed in its joint venture in the Netherlands that is into the business of transport, storage and communication services. ONGC Videsh invested $813.52 million in its joint venture in Azerbaijan and $70.08 million in its wholly-owned unit in Cayman Island. Suzlon Energy made an investment of $674.79 million in its wholly owned subsidiary in The Netherlands.
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