Investments by Indian companies abroad dropped by 49% to $1.66 billion in February compared to the previous month, RBI data showed Monday.Indian companies had invested $3.30 billion in January 2013.In a total of 480 deals, companies such as Escorts Heart Institute, Punj Lloyd, Crompton Greaves, Jindal Saw, Alok Knit Exports, Bharti Airtel and Gail India made investments in their foreign companies, the RBI data showed.Escorts Heart Institute and Research Centre invested $409.14 million in its wholly owned subsidiary in Singapore.Crompton Greaves invested $202.36 million in its joint venture in the Netherlands, which is engaged in wholesale, retail trade, restaurant and hotel businesses.Punj Lloyd made an investment of $108.72 million in a wholly owned unit in Singapore providing finance, insurance and business services.

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