U.S. and Singapore Contributed One-Third of India’s FDI in FY25: RBI Report

According to the Reserve Bank of India’s (RBI) latest Foreign Liabilities and Assets (FLA) Census 2024–25, the United States and Singapore together contributed more than one-third of India’s total Foreign Direct Investment (FDI) during the financial year 2024–25. The findings highlight the strong investment ties between India and major global economies.

Key Findings of the RBI Census

The RBI released provisional results of its annual FLA census on October 29, 2025, covering data on cross-border liabilities and assets of Indian entities involved in foreign and overseas investments.

• Out of 45,702 Indian companies that participated in the survey, 41,517 reported either FDI (inward investment) or ODI (outward investment).
• Around 7,880 companies were new participants this year, while 33,637 had also reported in the previous census.
• Nearly 75% of companies receiving FDI were subsidiaries of foreign firms, meaning a single foreign investor owned more than 50% of their equity.

Top FDI Source Countries

The report revealed that the United States and Singapore were the top two sources of FDI in India, jointly contributing over one-third of the total inflows.
Other leading contributors included Mauritius, the United Kingdom, and the Netherlands.

In terms of total FDI amounting to ₹68,75,931 crore during 2024–25:

• U.S. accounted for 20%
• Singapore: 14.3%
• Mauritius: 13.3%
• U.K.: 11.2%
• Netherlands: 9%

This marks an increase from the previous year’s total FDI of ₹61,88,243 crore, indicating steady growth in foreign investments in India.

Sector-Wise FDI Distribution

The manufacturing sector received the highest share of FDI, reflecting India’s growing role as a global production hub:

• 48.4% of total FDI equity (market value)
• 37.8% at face value

The services sector ranked second, further emphasizing the strength of India’s digital, IT, and business service industries in attracting global capital.

Outward Direct Investment Trends

The report also covered India’s Outward Direct Investment (ODI)—the amount invested by Indian companies abroad.
In 2024–25, ODI stood at ₹11,66,790 crore, with:

• Singapore accounting for 22.2%
• United States: 15.4%
• United Kingdom: 12.8%
• Netherlands: 9.6%

Interestingly, ODI growth (17.9%) outpaced FDI growth (11.1%), showing that Indian companies are increasingly expanding their global presence.

Profile of Indian Investment Entities

Over 97% of the companies reporting in the census were unlisted firms, yet they held the major share of FDI equity capital.

Around 90.5% of total FDI equity (face value) was held by non-financial companies, indicating strong industrial participation.

The ratio of inward to outward direct investment stood at 5.9 times in March 2025, compared to 6.3 times the previous year — showing that outward investments are gradually catching up.