The growing number of Indian companies eyeing international acquisitions is expected to make the country one of the top 20 global sources of foreign direct investment (FDI) soon, shows a report by a UN body.

“India and the UAE — not traditionally in the top 20 outward investor countries — were also listed among the top 10 sources of FDI, for the 2019-2021 period, shows the report on international FDI flows by United Nations Conference on Trade and Development.


Drawing inference from a survey of investment promotion agencies globally, the report points out that India’s equity outflows stood at $11.03 billion in 2018.

Firms on shopping spree

The current year has seen a string of announcements by Indian majors, according to the India Brand Equity Foundation (IBEF), a trust established by the commerce department.

Infosys has announced the acquisition of 75 per cent stake in a subsidiary of Dutch bank ABN AMRO. In March, Sun Pharmaceuticals also raised its stake in Russia’s PJSC Biosintez to 97 per cent.

Closer to home, Ashok Leyland has set up a new facility in Dhaka, in a joint venture with IFAD Autos. The sales, service, and spare parts facility is spread over 138,000 square feet, and will cater to the entire range of Ashok Leyland vehicles.

In addition, auto components major JBM Group has purchased a majority stake in Linde-Wiemann, a German structural components producer. OYO is planning to invest $1.2 billion in expansion across key markets, including China................. BS