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POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 15: ADB India’s forecast

Source- ADB

8. India's outward FDI up 20% at $5.81 bn in March 2025- RBI

India’s outward foreign direct investment (FDI) commitments rose about 20 per cent to $5.81 billion in
March 2025, up from $ 4.84 billion the same month last year. Sequentially, they rose marginally from
$5.57 billion in February, according to data from the Reserve Bank of India (RBI).

Outbound FDI, expressed as a financial commitment, has three components: equity, loans, and
guarantees. Equity commitments fell to $ 2.49 billion in March, compared to $2.55 billion a year ago and
$3.11 billion in February.

Loan commitments increased more than three-fold to $2.10 billion in March, up from $ 617 million a year
ago. They were higher than the $1.14 billion committed in February. Guarantees for overseas units fell to
$1.21 billion in March, from $1.67 billion a year ago and down from $1.31 billion in February, RBI data
showed.

Outward FDI in the quarter ended March 2025 stood at $10.32 billion with an equity component of $6.78
billion and debt of $3.53 billion. The three top outward FDI destinations for Indian FDI in January-March
2025 were Singapore ($2.09 billion), Mauritius ($1.44 billion) and the United States of America ($1.17
billion).

According to RBI data the actual outward FDI in April 2024-January 2025 stood at $ 20.19 billion, up from
$ 11.78 billion in April 2023-January 2024.

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