The Reserve Bank of India (RBI) recently released Census on Foreign Liabilities and Assets of Indian Direct Investment Entities for 2023-24. The United States continued to be the largest source of Foreign Direct Investment (FDI) in India, said RBI in report. The US is followed by Mauritius, Singapore and the United Kingdom.
For Overseas Direct Investment (ODI), Singapore, the United States and the United Kingdom were the top destinations, according to the RBI.
The RBI census consists of 41,653 entities. 37,407 of them reported FDI and/or ODI in their balance sheet for March 2024. Of these entities, 29,926 had also reported in the previous census round and 7,481 have newly reported in the current round.
Key Findings Of RBI Census
- Over 97% of the responding DI entities were unlisted as at end-March 2024.
- Non-financial companies accounted for nearly 90% of the FDI equity at face value.
- Listed and unlisted companies had nearly equal shares in total FDI at market value.
- Unlisted entities recorded 17.5% growth in FDI at market value during the year.
- Among listed companies, the corresponding growth was even higher at 29.8%.
- Total FDI in India surged by 23.3% at market value in rupee terms during 2023-24.
- Manufacturing sector accounted for more than half of total FDI equity capital at market value. At face value, it had nearly 40% share.
- In the services sector, ‘information and communication’ and ‘financial and insurance activities’ were the major FDI recipients.
- Both sales and purchases of overseas subsidiaries of Indian companies recorded 11% growth during 2023-24.
- During 2023-24, total sales and purchases of foreign subsidiaries in India increased by 13.2% and 10.6%, respectively.
