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Indian Investments Abroad

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Indian Investments Abroad

January, 2011

India has emerged as the world's 21st largest outward investor, with more than US$ 75 billion overseas investment in the past decade, according to a report by Columbia University.

According to the data from the Reserve Bank, investments by domestic companies in overseas joint ventures and wholly-owned subsidiaries stood at US$ 10.3 billion during 2009-10.

Equity accounted for more than 64 per cent (over US$ 6.6 billion) of the total outward foreign domestic investments (FDI), loans for about 35.6 per cent (over US$ 3.6 billion), as per the Reserve Bank of India (RBI). In terms of destinations, Singapore, Mauritius, the Netherlands, the US and the British Virgin Islands accounted for 67 per cent of total outward foreign direct investment (FDI). Singapore and Mauritius remains top destinations with more than 48 per cent share of the investments during 2009-10.

Overseas Investments

  • Elecon Engineering Company Ltd, a material handling equipment, industrial gears and transmission products manufacturer, has announced the acquisition of the UK-based Benzlers-Radicon Group (BR Group) for US$ 34.34 million.
  • Sahara India Pariwar’s US$ 752 million (GB£ 470 million) purchase of the Grosvenor House hotel in central London in February 2011 was one of the highest profile international acquisitions.
  • Biocon Ltd will set up its first overseas manufacturing and research facility in Malaysia with an initial investment of around US$ 160.38 million.
  • Allcargo Global Logistics Ltd through its step-down wholly owned subsidiary has acquired business rights and controlling stake in Hong Kong-based companies engaged in NVOCC business in China and other parts of eastern regions.
  • The Essar Group-owned back-office firm, Aegis, has acquired Actionline, one of the largest BPO firms in Argentina. The acquisition will give Aegis a 5,000-people strong facility and a presence in the Latin America region, in addition to Spanish-speaking capability that can be leveraged for US and European markets.
  • Mumbai-based drug-maker Twilight Litaka Pharma Limited has picked up 26 per cent equity in South Africa's Interpro Healthcare Ltd.
  • Mumbai-based Patni Computer Systems has opened a new delivery and support centre in Suzhou, China. This centre is set to serve Yangtze region – the largest manufacturing base for international companies.
  • Auto component maker Ashok Minda Group has completed the acquisition of specialist composite moulding manufacturer Aksys Koengen of Germany.
  • Tata Motors has bought an 80 per cent stake in Italy-based Trilix Srl, a design and engineering company for US$ 2.56 million.
  • ICICI Bank has opened its first retail branch in Singapore after it received the Full Banking Licence with Qualified Full Banking (QFB) privileges from the Monetary Authority of Singapore in April 2010.
  • Arvind Ltd will invest US$ 60 million over the next three years on setting up a joint venture plant in Bangladesh.
  • Larsen & Toubro (L&T) signed an agreement with South Africa-based Befula Investments for a joint venture to develop power transmission and distribution (T&D) projects in South Africa. L&T will have a 72.5 per cent stake in the venture.
  • Refractory manufacturer IFGL Refractories has acquired two US-based firms—EI Ceramics and CUSC International—for US$ 13 million to build a presence in one of the world’s largest markets for steel.
  • KEC International Ltd, an RPG group company, has acquired Texas-based power transmission infrastructure company SAE Towers Holdings for an enterprise value of US$ 95 million.
  • Ahmedabad-based Elitecore Technologies, provider of network security solutions, has announced foray into the African market with its NGN ready billing support system and operations support system (BSS/OSS) product suits.
  • Ybrant Digital, a digital marketing solutions company, has acquired Lycos Inc, a search-based internet properties and services company, from Daum Communications of Korea for US$ 36 million.
  • Mobile value-added services company Mauj Mobile has acquired UK-based Mobango, an independent mobile application and user generated content store.
  • Marico has acquired the OTC Healthcare brand, Ingwe, from Guideline Trading CC of South Africa, at an estimated US$ 2.15 million through its subsidiary, Marico South Africa (MSA). This is the fast moving consumer goods (FMCG) major's seventh acquisition and its second one in South Africa.
  • Solar Semiconductor, a photovoltaic (PV) products company, has announced a strategic partnership with Sonepar, a distributor of electrical and Solar PV products in Canada and worldwide.
  • Infotech Enterprises, a geo-spatial and engineering services company, has acquired the US-based Wellsco Inc, a telecom engineering services company, with an annual run rate of US$ 12 million.
  • Transgene Biotek Ltd has said that it has entered into an agreement to acquire Marillion Pharmaceuticals Inc, a US Oncology Biopharmaceuticals company based in Exton, Pennsylvania, in an all-share deal.
  • Coal importer Adani Enterprises, has acquired an Australian coal asset of Linc Energy in a cash and royalty deal worth US$ 2.7 billion. This would be the largest single investment by an Indian company in Australia and a second coal acquisition abroad for Adani.
  • Commercial vehicle major Ashok Leyland (ALL) has picked up a 26 per cent stake in Optare, a UK-based bus manufacturer.
  • Ahmedabad-based Lambda Therapeutic Research Ltd, a Contract Research Organisation (CRO), has successfully acquired the US-based veteran CRO, Biovail CRD.
  • Dabur India Ltd has announced a US$ 69 million acquisition of Turkish personal care products company Hobi Kozemtik Group.
  • HCL Infosystems announced the acquisition of a 60 per cent stake in Dubai-based IT services and solutions company, NTS Group, for an estimated US$ 6.5 million.