India’s outbound direct investment (ODI) increased 40.8% to Rs16.71tn ($178.03bn) as of the end-March 2026, from Rs11.87tn a year earlier, provisional Reserve Bank of India (RBI) results show.
The ratio of inward investment to outbound investment narrowed to 4.2 times as of end-March 2026, from 5.5 times a year earlier, according to the RBI’s provisional census results.
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Foreign direct investment (FDI) increased 8.5% in rupee terms over the same period, from Rs65.17tn to Rs70.72tn.
In US dollar terms, it stood at $747.1bn, compared with $761.5bn, reflecting exchange rate and price valuations.
The increase in outbound investment was driven by debt instruments issued to foreign affiliates.
Outbound debt climbed 92.4% from Rs1.77tn to Rs3.41tn, while outbound equity capital rose 31.8% from Rs10.09tn to Rs13.30tn.
Singapore was the main destination for Indian outbound capital, with a 21.1% share, or Rs3.53tn of the total.
The UAE accounted for 16.2%, followed by the US at 13.9%. Outbound debt to UAE-based entities rose from Rs17,644 crore to Rs1.53tn.
Overseas subsidiaries of Indian direct investment entities reported total sales of Rs17.56tn in 2025–26 across 6,893 reporting companies.
Manufacturing made up 58.0% of the sales, while services accounted for 38.5%.
Last month, South Korean automaker Hyundai Motor Group announced plans to invest $15.5bn in India over seven years, between 2026 and 2032, to position the country as a “strategic core market for the group’s future growth, emerging market expansion, and next-generation automotive innovation.”
The investment plan aims to “foster a comprehensive automotive industry ecosystem” in India, and will include manufacturing capacity expansion, R&D infrastructure development, supplier development to help increase local parts sourcing, and future technology innovation.
In September, the UAE unveiled plans to invest another $25bn in India soon, Commerce and Industry Minister Piyush Goyal said after a bilateral investment task force meeting held in Mumbai, Maharashtra.
