Overseas direct investment by Indian companies stood at $3.53 billion, up 50.2 per cent in June from the previous month.

This includes the equity, debt as well as guarantees issued for overseas ventures. Piramal Healthcare alone issued a guarantee worth $1.35 billion to its wholly owned subsidiary in the US.

On the other hand Bharti Airtel also issued guarantees worth $0.85 billion and $0.15 billion to its joint ventures in Netherlands and Singapore respectively.