The confidence of Indian companies is at a new high level. After becoming the number one investor in the UK, they are trying hard to imitate the success in the USA. Followed by a series of merger and acquisition abroad by the Indian companies, a recent study revealed that Indian companies have invested over USD two billion in the US in 2006-07 alone.

Indian outbound deals are expected to surpass USD 35 billion by the end of 2007. There were 115 foreign acquisitions worth USD 7.4 billion during the first nine months last year by Indian companies.

The study was done by the Federation of Indian Chambers of Commerce in collaboration with the Federation of Indian Chamber of Commerce and Industry (FICCI) and Ernst & Young.

The study suggests that the India Inc is now well-prepared for overseas acquisitions. Following are some findings of the study:

1. Indian government's adoption of liberal measures and various monetary relaxations paces up India's economic progress.

2. Indian investments abroad are largely driven by small and medium enterprises and not always made by large business conglomerates.

3. The top five deals during the period were made by Tata Tea, ONGC, Videsh, Tata Coffee, Indian Hotels and HOV Services.

4. Indian companies are now increasingly opening up units in the US.

5.  Indian companies are now providing large-scale employment  opportunities in the USA giving rise to a ''reverse outsourcing'' trend.