India’s Chief Economic Adviser V. Anantha Nageswaran forecasts gross foreign direct investment will top $90 billion by the end of fiscal 2026.
Gross FDI hit $88.3 billion from April through February FY26, reflecting an 18.1% year-on-year rise. With March still ahead, Nageswaran sees a “northward bias” in the trend, potentially lifting inflows 10% above FY25 levels.
Net FDI also improved to $6.3 billion over the period, despite repatriation outflows, turning positive from $1.5 billion a year earlier. Key contributors included manufacturing, computer services, financial services, business services, and communications, claiming over two-thirds of equity flows.
Major sources Singapore, the US, Mauritius, Japan, and the Netherlands drove nearly three-fourths of total inflows.
Earlier data reinforced the momentum: April-December FY26 inflows reached $47.87 billion, up from $40.67 billion prior year. H1 FY26 marked a record $50.36 billion, a 16% gain.
Nageswaran’s outlook highlights India’s sustained draw amid global challenges, with gross FDI poised for its first full year at roughly 2% of GDP.
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