Enhancing India CARIFORUM Economic Relations and Prospects for Cooperation

Majority of Indian investments in the CARIFORUM countries have gone towards the construction sector. During the period April 2010 to March 2021, as much as 83 percent of India’ OFDI to the region was absorbed by the construction sector. It was followed by agriculture and mining sector, with around 10 percent of total investments, financial, insurance, real estate and business services (5 percent), and manufacturing (2 percent) (Figure 14) .

Figure 14: India’s OFDI to CARIFORUM Region- Sector Wise Share (OFDI between 2010-21)

Source: RBI database on monthly OFDI from India and India Exim Bank Analysis

Indian Investments in The Bahamas As discussed in the previous section, T he Bahamas was the largest recipient of India’s OFDI to the CARIFORUM countries. During April 1996 to March 2021, India’s OFDI to the country amounted to US$ 214.1 million, which was over three quarters of India’s overall investments to the region. Indian investments were concentrated in the construction sector in the country with over 86 percent of the investments targeted towards the sector. Other major sector that attracted Indian investments was the manufacturing sector. Indian bank, State Bank of India (SBI) has a branch in T he Bahamas.

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Enhancing India-CARIFORUM Economic Relations and Prospects for Cooperation