Net FDI negative for 3rd straight month in Nov due to high repatriation

Net FDI in April-Nov period grows 7x to $5.6 billion compared to same period last year

Net foreign direct investment (FDI) remained negative in November 2025 for the third consecutive month, mainly due to high repatriation, the Reserve Bank of India (RBI) said in its January bulletin.

 

Data shows that net FDI in November was negative $446 million, compared with negative $1.67 billion in October.

 

However, for the April–November period of FY26, the net FDI has grown more than seven-fold, compared with the same period last year, reaching $5.6 billion, up from $781 million in April–November FY25.

 

“During April-November 2025, FDI remained higher than in the same period last year, both in gross and net terms,” RBI said, adding that gross inward FDI remained steady in November with Japan, Singapore, and the US accounting for more than 75 per cent of total FDI inflows.

 

The highest recipients (around 75 per cent) of FDI inflows were the financial services sector, followed by manufacturing, and retail and wholesale trade, it said.

 

“However, net FDI remained negative in November for the third consecutive month, mainly due to high repatriation. Outward FDI moderated in November, with Singapore, Mauritius, the US and the UK accounting for more than half of total outward FDI. Sector-specific breakdown suggests that more than 70 per cent of outward FDI was in manufacturing, financial, insurance, and business services,” the RBI said in the bulletin.

 

Gross inflows in November 2025 stood at $6.4 billion, little lower than in October at $6.5 billion. In April–November 2025, gross inflows stood at $64.73 billion, up 16 per cent year–on–year (Y-o-Y) from the same period the previous year. In FY25, gross inflows were $80.61 billion.

 

Additionally, direct investment to India although dropped nearly 31 per cent Y-o-Y in November to $1.06 billion, in April–November period of 2025, it was up 61.5 per cent Y-o-Y to $27.7 billion.

 

Meanwhile, repatriation or disinvestment stood at $5.3 billion in November 2025, compared to $4.99 billion in October. And, in April – November 2025, repatriation is down 4.15 per cent to $37 billion, compared to $38.06 billion in the same period a year ago.

 

Separately, FDI by India has halved in November 2025 to $1.51 billion, compared to $3.2 billion in October. In April–November 2025, FDI by India stood at $22.10 billion, up 34 per cent Y-o-Y, compared to $16.3 billion in the same period last year. In FY25, FDI by India was to the tune of $28.1 billion.