New Delhi, Sept. 1 -- India's outward FDI flows have increased at a sharp pace in the past 5 years, recording a five-year CAGR of 12.6 per cent, which is higher than the world average of 3.9 per cent, according to a report by Bank of Baroda.

The report, authored by economist Dipanwita Mazumdar, attributed this growth to efforts towards integrating into the global investment cycle to tap newer markets. In 2024, India's outward FDI reached a record high level of USD 23.8 billion, the report said.

The country-wise profile gives a closer picture about direction of India's outward FDI flow. Singapore accounts for 25 per cent of India's outward FDI since 2015, followed by the US and the UAE, according to the report.

The outward FDI profile f...