New Delhi: Industry body CII said on Sunday that overseas investments by Indian companies are likely to go up given the stable market conditions and the significant impact created by Indian firms on local economies.
As per the UNCTAD report, India’s total cumulative stock of Overseas Foreign Direct Investment (OFDI) amounted to $155 billion in 2017. Indian firms have been working with the local communities while investing abroad, generating substantial employment and creating benefits for the host economies, said CII.
The major sectors of interest for Indian companies in these countries are IT, pharma, manufacturing, automotive, financial services, and business services, among others, as per its various surveys.
These surveys have been conducted in the US, the UK, China, South Africa, and Germany. CII said that Indian origin companies in China have presence across multiple industries headed by manufacturing and followed by healthcare.
