‘We are a listening govt’: Piyush Goyal says FDI inflow remains robust, money flowing back into India

There is no declining trend in foreign direct investments (FDI) into India, though periodic fluctuations may occur sometimes due to global interest rate changes, said Commerce and Industry Minister Piyush Goyal.

Goyal also emphasised that FDI remains strong as India is seeing renewed overseas inflows, suggesting that the government is open to suggestions and will adopt new measures to promote FDI in the country, PTI reported.

India turns attractive spot for FDI

Over the last 11 fiscal years (2014-25), India attracted FDI worth $748.78 billion, a 143 per cent increase over the previous 11 years (2003-14), which saw $308.38 billion in overseas inflows.

Additionally, the number of source countries for FDI increased from 89 in 2013-14 to 112 in 2024-25, showing India's growing global appeal as an investment destination, as per the report.

Speaking of the FDI data, Piyush Goyal told PTI, "I don't think that there is any declining trend; periodically there may be some changes, and that happens more due to changes in interest rate cycles in other countries.”

He also observed that “If the bond yields in some countries become exorbitantly high, money tends to flow into those countries". 

"We have once again seen money flowing back into India,” the minister noted.

Govt in talks with Swiss officials to boost trade

In 2024-25, India received a total FDI of $81 billion, which is the highest in the last three years, Goyal said. The highest FDI inflow ever received was $84.83 billion in 2021-22.

The commerce minister also stated that with $81 billion, India is back on the FDI growth trajectory. "We are a listening government. We are open to suggestions and we are always ready to adopt newer measures,” he emphasised.

The minister is holding meetings with Swiss leaders and companies to boost trade and investments between the two countries.

Contrasting FDI trend: India vs other countries

Foreign direct investment in India fell 24.5 per cent year-on-year to $9.34 billion in the January-March quarter of 2024-25. However, it later grew 13 per cent to $50 billion during the entire financial year.

Total FDI, which includes equity inflows, reinvested earnings and other capital, grew by 14 per cent to $81.04 billion during the last financial year. The same stood at USD 71.3 billion in 2023-24.

While the FDI trend had its ups and downs in India in 2024-25, at the same time, Singapore emerged as the largest source of FDI with $14.94 billion inflows. It was followed by Mauritius ($3.73 billion against $8.34 billion), the US ($5.45 billion), the Netherlands ($4.62 billion), the UAE ($3.12 billion), Japan ($2.47 billion), Cyprus ($1.2 billion), the UK ($795 million), Germany ($ 469 million), and the Cayman Islands ($371 million).

In terms of sector-wise FDI, inflows rose in services, trading, telecommunication, automobile, construction development, non-conventional energy and chemicals.