India's Overseas Direct Investments Surge 58% In First Half Of FY 2024

New Delhi, Oct 22 (KNN) Overseas investments from India demonstrated robust growth in the first half of fiscal year 2024, recording a significant increase of 58 percent, according to recent data released by the Finance Ministry.

The Overseas Direct Investment (ODI) reached USD 8.9 billion during April-September 2024, compared to USD 5.6 billion in the corresponding period of the previous fiscal year.

September witnessed a moderation in investment flows, with outbound investments declining to USD 1.45 billion, marking a three-month low.

This figure represents a decrease from August's USD 1.79 billion and July's USD 2.47 billion. Market analysts, however, maintain that the underlying investment momentum remains strong despite the monthly fluctuation.

Singapore emerged as the preferred destination for Indian investments, attracting approximately 25 percent of the total outflows. Together with the United States, United Kingdom, Netherlands, and Mauritius, these five nations accounted for more than two-thirds of India's overseas investments.

The financial, insurance, and business services sector dominated the investment landscape, comprising 41 percent of the total overseas direct investment during this period.

The geographical distribution of Indian investments spans 155 countries, reflecting the expanding global footprint of Indian enterprises in diverse markets.

This substantial increase in overseas investments indicates growing confidence among Indian businesses in international expansion, despite periodic variations in monthly flows.

(KNN Bureau)