New Delhi, Nov 6 (IANS) India's overseas direct investments (ODI) grew 40.8 per cent in rupee terms during 2025-26, outpacing the 8.5 per cent growth in foreign direct investment (FDI) inflows into the country, narrowing the gap between investments coming into India and those made by Indian companies abroad, according to the Reserve Bank of India's (RBI) latest census. 

The ratio of inward FDI to outward direct investment moderated to 4.2 times at the end of March 2026, compared with 5.5 times a year earlier.

According to the provisional results of the RBI's annual census on foreign liabilities and assets, released on November 6, the outstanding value of inward direct investment stood at Rs 70.72 lakh crore at the end of March 2026, up from Rs 65.17 lakh crore a year ago.

In comparison, Indian entities' overseas direct investments increased to Rs 16.71 lakh crore from Rs 11.87 lakh crore during the same period. In dollar terms, inward direct investment was valued at $747.13 billion, while outward investment stood at $176.59 billion.

The census covered 43,123 Indian entities reporting FDI and/or ODI as of March 2026. Unlisted entities accounted for 41,814, or around 97 per cent, of the total respondents.

The RBI data showed that unlisted companies accounted for 97.9 per cent of FDI equity capital when measured at face value. However, listed and unlisted companies had almost equal shares when equity investments were measured at market value.

Unlisted companies also accounted for 96.6 per cent of total outstanding FDI debt at the end of March 2026. Non-financial companies contributed more than 90 per cent of FDI equity capital at face value, the central bank said.

The United States remained the largest source of outstanding FDI in India, accounting for 16.5 per cent of the total at the end of March 2026. Mauritius followed with a 14.5 per cent share, while Singapore and the United Kingdom accounted for 13.7 per cent and 10.8 per cent, respectively.

On the overseas investment front, Singapore, the United Arab Emirates and the US together accounted for more than half of India's total ODI.

Sector-wise, manufacturing had the largest share of outstanding FDI equity at market value, accounting for 50.1 per cent, followed by services at 45 per cent.