India buys land 9 times Delhi's size abroad

October 20, 2013 13:13

Indian companies have acquired land more than nine times the size of Delhi on foreign shores, as cultivable land at home is lost to urbanisation, industry and infrastructure projects.

Land Matrix, a global land monitoring initiative that tracks land dealings worldwide, placed India among the top 10 countries that have acquired large tracts of land abroad, primarily for agriculture, in Africa and Asia.

The country ranks eighth, next to China, in the list which has US, Malaysia, United Arab Emirates and UK among the top buyers. Of the total 848 deals concluded globally since 2008, 80 involve Indian companies that have invested in 65 deals to grow foodg rains, sugarcane, oil seeds, tea and flowers.

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