NEW DELHI: Industry chamber Confederation of Indian Industry (CII) today said overseas investments by Indian companies are likely to go up given the stable market conditions and the significant impact created by Indian companies on local economies.
Indian companies have been working with the local communities while investing abroad, generating substantial employment and creating benefits for the host economies, CII said in a statement.
Citing a World Investment Report of UNCTAD, the chamber said India's total cumulative stock of overseas foreign direct investment (OFDI) amounted to $155 billion in 2017.
CII tracks overseas investments by Indian companies in major countries to provide insights about their scale and performance and the impact they have on these economies. These surveys have been conducted in the US, the UK, China, South Africa, and Germany.
The major sectors of interest for Indian companies in these countries are information technology (IT), pharmaceuticals, manufacturing, automotive, financial services, and business services, among others, as per its various surveys.