Indian firms have made big moves abroad. Their overseas investments grew by 17% in 2024, hitting $37.7 billion. This is up from $32.29 billion in 2023. This growth shows that Indian firms have more faith and skills to seek chances outside their home country.
A closer look at foreign investment
Outbound foreign direct investment (OFDI) from Indian firms includes money put into stocks, loans, and promises made to firms in other nations.
Equity investments: These grew by a great 40%, reaching $12.69 billion in 2024, up from $9.08 billion in 2023.
Loans: Indian firms gave $8.7 billion in loans in 2024, compared to $4.76 billion the year before.
Guarantees: However, guarantees dropped to $16.29 billion, down from $18.44 billion in 2023. This shows a change in how firms invest.
Larsen & Toubro lead the way
The biggest investment in 2024 came from Larsen & Toubro (L&T). In February, L&T put $2.4 billion into its Saudi firm, L&T Hydrocarbon Saudi Company. This came after a large $4 billion deal with Aramco for growth projects in the land.
L&T’s power group also got contracts worth between₹10,000 crore and₹15,000 crore to boost power grids in Saudi Arabia and the UAE. These plans include new HVDC links, overhead lines, and high-tech gas-insulated hubs in both areas.
Other big deals in 2024
Bharat Petroleum: Its unit, Bharat PetroResources, made guarantees worth $669 million to its Dutch branch, BRPL International, to help with oil and gas work, which includes a big hydrocarbon field in Brazil.
Sagility India: The healthcare tech firm put $629 million into its US unit, Sagility (US) Holding.
Adani Ports: Made a $385 million promise for its joint venture in Israel, Mediterranean International Ports ADGD.
Tata Steel: Gave a $440 million loan to its Singapore-based firm, T Steel Holdings.
Where did the money go?
Indian firms aimed at many spots, with big money going into:
Singapore
United States
United Kingdom
Saudi Arabia
United Arab Emirates
Oman
Malaysia
The bigger picture
The rise in overseas investments shows India’s growing strength in the economy and the global goals of its firms. With more spread across fields like construction, power, healthcare, and tech, Indian firms are making a strong mark on the world stage.
