New Delhi, Jan 25 (IANS): It is an opportune time for US companies to scale up their engagement with Indian businesses at home as well as through partnerships in India, leveraging economic multipliers that exist on both sides, an industry report has said.

"To foster a positive investment environment further, a Bilateral Investment Treaty (BIT) can provide confidence and protection to investors from any discriminatory measures," the report by the Federation of Indian Chambers of Commerce and Industry and Ernst & Young said here Saturday.

It stated a total of 268 outbound acquisitions had been made by the Indian companies between October, 2012 and December, 2014, of which 71 were made in the US, with a cumulative disclosed value of $2.9 billion, despite global and domestic economic turbulence.

"The actual investment in the US would be even greater as the transaction value is available for only 22 transactions out of a total 71 deals. It is a matter of great pride that Indian companies are able to contribute to the US economy's export and tax revenues, social security contributions, capital growth and productivity," the report said.

The report highlighted that a high rate of innovation, abundance of natural resources, presence of a large consumer market in the US, as well as the strong US-India relationship, made the US a highly attractive destination for Indian businesses.

The key drivers of India's outbound investments to the US are advanced technologies, natural resources, expanding existing markets and regulatory impetus and US as a hub to expand business in the Americas.