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Indian companies invest $3.24 bn overseas in July

MUMBAI: Overseas direct investment by Indian companies rose to USD 3.24 billion in July, up 89.5 per cent from a month ago, the Reserve Bank data showed today. 

Indian companies had made investment of USD 1.71 billion overseas in June. 

In a total of 461 deals, companies such as Reliance Communications, Apollo Tyres,
Zee Entertainment EnterprisesBSE 0.96 %and Tata CommunicationsBSE -0.54 % were among the major investors who invest abroad in July. 

Reliance CommunicationsBSE 2.26 %invested USD 549.82 million in its wholly owned subsidiary in the Netherlands and Apollo TyresBSE 2.19 % made an investment of USD 519.75 million its wholly owned unit in Mauritius. 

Zee Entertainment Enterprises invested USD 470.59 million its wholly owned subsidiary in the British Virgin Islands. 

Tata Communications invested USD 295.44 million in a wholly owned company in Singapore and Gujarat State Fertilisers & Chemicals invested USD 51.75 million in a joint venture in Tunisia.