Bengaluru, Nov. 12 -- Indian companies are seeing a renewed appetite for cross-border acquisitions, driven by stronger balance sheets, ambitious expansion plans and a push to unlock value, according to JPMorgan Chase & Co.'s co-heads of India investment banking.

"Indian companies are becoming larger and increasingly confident about pursuing acquisitions overseas. They have more confidence in their ability to acquire and integrate businesses, and this has resulted in the increasing share of outbound M&A (merger and acquisition) deals in the last year," said Ravi Shankar, co-head of investment banking at JPMorgan in India.

Outbound acquisitions have largely been driven by sectors with a global manufacturing or market-access focus, includi...