India's outbound FDI moderates to $4.41 bn in September, shows RBI data

While total outward FDI dipped year-on-year, equity commitments tripled to $2.57 billion; Prime Focus, Intas, and Zydus among major overseas investors

India’s outward foreign direct investment (FDI) moderated marginally to $4.41 billion in September 2025 from $4.81 billion in the same month last year.

 

Sequentially, it was up substantially from $2.59 billion in August, according to the data from the Reserve Bank of India (RBI).

 

Outbound FDI, expressed as a financial commitment, comprises three components: Equity, loans, and guarantees.

 

Outbound equity FDI commitment rose about three-fold to $2.57 billion in September from $828.1 million a year ago. It was also higher than $1.0 billion in August 2025.

 

Debt (loans) declined at $952.3 million in September this year from $1.21 billion in the same month last year. However, it was higher than $551.2 million recorded in August.

 

 

Guarantees for overseas units were down sharply to $892.4 million in September from $2.76 billion a year ago and $1.04 billion in August this year.

 

The data on key investment by companies showed Prime Focus Ltd has committed an equity infusion of $348.71 million in joint venture entity DNEG in Luxembourg.

 

Intas Pharmaceuticals committed $213.03 million in the form of loans for its wholly-owned subsidiary Accord Plasma B V in the Netherlands.

 

Zydus Wellness has committed $355.76 million for guarantees for its wholly-owned subsidiary in the United Kingdom. Zydus Medtech has committed $253.33 million in its wholly-owned subsidiary in France.