New Delhi, March 1 -- Chief Economic Advisor V. Anantha Nageswaran has urged India's private sector to increase domestic investments as companies continue to expand abroad despite global uncertainties, according to a Mint report.

He pointed out that India's economic performance is outpacing several major economies and presents a compelling case for investment.

In nominal terms, the economy is expected to grow by 9.9% this fiscal year, slightly higher than the previous forecast of 9.8%.

Citing Reserve Bank of India data, he noted that outbound foreign direct investment by Indian firms increased between April and December.

This, he argued, made an even stronger case for increased domestic investment, as India's growth is currently outpa...