According to a news by PTI,Indian businesses are expected to invest between $40-50 billion overseas this year as global economy improves, after having committed $30-35 billion of such investments last year, Lanco Infratech Ltd Executive Director Ajay Kumar Dhir said on Monday.
He gave the “rough estimations” at the inaugural Future Global 100 Initiative (FG100), a corporate world’s gathering in Singapore to address the global economy, markets and business direction, pointing out that Indian corporations were now “very bullish” on investing globally.
“Last year, between $30-35 billion was committed as big ticket investments overseas by Indian businesses despite the traces of the 2008-2009, global economic recessionary trend,” he said, adding that the figure included Lanco’s $1 billion investment in an Australian coal mine.
“Now with the global economy recovering and the recessionary trend little behind us, we would see a proportionate increase of Indian investments to between $40-50 billion,” Dhir said.
He added that 15 per cent of Indian businesses have already ventured out into the international markets, and 30 per cent more would be doing so over the next 5-6 years.
However, he cautioned the Indian investors asking them to shed India management mentality and blend with global business operating cultures.
The FG100 initiative is to be held in seven cities starting with Singapore. The next FG100 roundtable would be held in Mumbai on August 4, followed by Shanghai, Kuala Lumpur, Hong Kong, Jakarta and Sydney
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