New Delhi [India], November 6 : India's overseas direct investment (ODI) increased at a faster pace than foreign direct investment (FDI) in the country during 2025-26, narrowing the ratio of inward FDI to outward investment to 4.2 times from 5.5 times a year earlier, according to the Reserve Bank of India's latest census.
As per the provisional results of the Census on Foreign Liabilities and Assets of Indian Direct Investment Entities for 2025-26, the outstanding value of inward direct investment stood at Rs 70.71 lakh crore at the end of March 2026, compared with Rs 65.17 lakh crore a year earlier, registering a growth of 8.5 per cent.
Meanwhile, the value of outward direct investment rose to Rs 16.71 lakh crore from Rs 11.86 lakh crore during the same period, marking an increase of around 40.8 per cent.
The RBI said the ratio of inward FDI to ODI moderated to 4.2 times in rupee terms at the end of March 2026, indicating an increase in the relative scale of Indian entities' overseas investments.
The central bank's census covered 43,123 Indian entities reporting FDI and/or ODI as of March 2026. Around 97 per cent of these entities were unlisted, with non-financial companies accounting for more than 90 per cent of FDI equity at face value.
In terms of the sources of foreign investment, the United States remained the largest contributor, accounting for 16.5 per cent of India's outstanding FDI, followed by Mauritius at 14.5 per cent, Singapore at 13.7 per cent and the United Kingdom at 10.8 per cent.
On the outward investment front, Singapore, the United Arab Emirates and the United States were the leading destinations, together accounting for more than half of India's total ODI.
Sectorally, manufacturing accounted for the largest share of outstanding FDI equity at market value, with 50.1 per cent, while services held 45 per cent.
The RBI clarified that changes in outstanding foreign assets and liabilities may differ from flows recorded in India's balance of payments, as the former also reflect valuation changes arising from price and exchange rate movements.