A report says that corporate India's overseas investment is likely to see a significant jump in the next few years, as more companies seek to explore newer markets and make strategic moves in crisis-hit developed economies. The Vale Columbia Center on Sustainable International Investment said in a report titled 'Outward FDI from India', said that the country is now world's 21 largest outward investor and Indian firms have invested over 75 billion dollars overseas in the past decade.The report said that substantial improvements in the country's economic performance and the competitiveness of its firms and their strategy, due to ongoing liberalisation in economic and outward FDI (OFDI) policies, made these developments possible.India's average annual OFDI flows are now higher than those of many developed market economies and over a half of India's total 2002-2009 OFDI flows went into developed economies and most of them in the form of M&As.According the report, Singapore has replaced Russia as the largest host to Indian OFDI. Though there was a 25 per cent drop in Indian OFDI in2009, Indian firms are once again increasing their overseas investment, including through mergers and acquisitions.