Census on Foreign Liabilities and Assets of Indian Direct Investment Entities for 2025-26

The Reserve Bank of India released the provisional results of the 2025-26 annual census on foreign liabilities and assets (FLA) for cross-border investments by Indian entities. The FLA census captures detailed information on foreign liabilities, assets, and direct investments in terms of portfolio investment, other investments, and trade credit.

The census found that 97 per cent of Indian entities reporting foreign direct investment (FDI) and outward direct investment (ODI) were unlisted as of March 2026, holding a significant share in total FDI equity capital. Non-financial companies contributed more than 90 per cent of the FDI equity capital at face value. The ratio of inward FDI to ODI moderated to 4.2 times as of March 2026 compared to 5.5 times the previous year.

The United States of America was the top source for outstanding FDI, followed by Mauritius, Singapore, and the United Kingdom. Among destinations, Singapore, the United Arab Emirates, and the United States of America accounted for more than 50 per cent of outstanding ODI. The manufacturing sector held the highest share in the total outstanding FDI equity capital at market value, while the services sector accounted for 45 per cent.