India’s outward FDI up 29.6% at $17.4 b in FY08

by Dave

The country’s outward foreign direct investments rose by 29.6 per cent to $17.4 billion in 2007-08, backed by India’s Inc large-scale acquisitions, growing appetite for an overseas presence and the hunt for energy assets. The outward FDI in 2006-07 was $13.45 billion.

Outward investment refers to investment by Indian entities and partnership firms in joint ventures and wholly-owned subsidiaries abroad,

The manufacturing sector led the investments, with a 43 per cent share, followed by the non-financial services (11 per cent) and trading (4 per cent). The manufacturing sector saw proposals in electronic equipment, fertilisers, agricultural and allied products and gems and jewellery.