Net FDI to India doubles to $7.64 bn in April-September, shows RBI data

RBI data shows stronger gross inflows and lower repatriation lifted net FDI in Apr-Sep, even as September saw higher outward investment pushing net flows into the red

Net foreign direct investment (FDI) in India — inflows minus outflows — more than doubled to $7.64 billion during the first half (April-September) of 2025-26 (H1FY26) from $3.4 billion a year ago on rise in money brought into the country and moderation in repatriation, according to Reserve Bank of India (RBI) data.

 

However, the data for the month of September 2025 presented an adverse picture, with net FDI in negative at $2.37 billion, higher than negative of $1.17 billion in September 2024. Net FDI was negative $622 million in August.

 

For H1FY26, gross FDI inflows increased by 16.14 per cent year-on-year (Y-o-Y) to $50.36 billion from $ 43.36 billion in H1FY25, the RBI data showed (November 2025 bulletin).

 

Repatriation/disinvestment by those who made direct investments in India declined marginally to $26.4 billion during H1FY26 from $27.79 billion in H1FY25, the RBI data showed.

 

Overseas investments made by Indian firms, i.e., outward FDI, rose to $16.32 billion in H1FY26 from $12.17 billion a year ago.

 

The State of the Economy report in RBI’s November 2025 bulletin noted that gross inward FDI remained robust in September, with Singapore, Mauritius, the UAE, Luxembourg, and Qatar together accounting for about 78 per cent of total inflows. The major recipient sectors were manufacturing, retail & wholesale trade, communication services, financial services, and computer services. Gross inward FDI was $6.60 in September 2025 as against $6.33 billion in September 2024.

 

However, net FDI turned negative in September 2025. The repatriation was flat at $5.19 billion in the month as against $5.2 billion a year ago. The outward FDI vaulted to $3.78 billion from $ 2.3 billion in September 2024, the RBI data showed.

 

For outward FDI, the key destinations were Singapore, Mauritius, the UAE, and the US while major sectors included financial services, insurance & business services, agriculture & mining, and manufacturing, the report added.