Foreign direct investment from India is not a marginal phenomenon. It is quite sizeable relative to foreign direct investment into India and private corporate investment in India. It is also quite comparable with the magnitudes of foreign direct investment of the newly industrialising countries and some small developed capitalist countries. Foreign direct investment from India has grown steadily since the mid-sixties. However, there has been a distinct slackening of the rate of growth since 1979-81. The author is of the view that transnationalisation of the Indian private corporate sector is not too insubstantial. The Indian capitalist class has 'come of age' and is undertaking industrial ventures abroad in its drive towards capital accumulation.
This paper is in continuance to a paper published in the EPW which contains the first six sections of the empirical study. This part continues with Section VI, which brings together some important results pertaining to FDI from India, the magnitude of the phenomenon in comparison to FDI from other important less developed countries (LDCs), like Brazil, Mexico, South Korea, and small developed countries (DCs), like Spain, Austria, etc, home investments, and FDI into India Section VII covers the geographical spread ol FDI from India Section VIII presents the industry-wise pattern of FDI from India Section IX covers Indian 'subsidiaries' based on information gathered from a variety of sources An important motivation underlying the emergence of these firms is the opportunity they offer to transfer and maintain funds abroad, bypassing highly restrictive exchange regime.