India’s outward FDI falls 14% to $4.34 billion in September as loans, guarantees

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India’s outward FDI falls 14% to $4.34 billion in September as loans, guarantees decline

India’s outward FDI falls 14% to $4.34 billion in September as loans, guarantees decline

By Joel Rebello, ET BureauLast Updated: Oct 26, 2026, 07:58:00 PM ISTSynopsis

Outward foreign direct investment from India reached $4.34 billion in September, which is a 14% increase from last year. However, this figure reflects a 37% decrease from the previous month. Equity commitments decreased by 20% compared to August, totaling $3.26 billion. Loans to overseas subsidiaries rose slightly, reaching $549 million in September. Several companies, including Sun Pharma, led the equity outflows with significant investments.

Outward foreign direct investment (FDI) from India fell 14% year-on-year to $4.34 billion in September from $5.04 billion a year ago, provisional Reserve Bank of India (RBI) data published Monday showed.

The metric fell 37% from the $6.87 billion reported in the previous month.

Equity commitments outside India decreased 20% to $3.26 billion in September from $4.10 billion in August but were higher than the $2.59 billion reported a year ago. Loans extended to overseas subsidiaries increased to $549 million in September from $474 million in August. Loans were also down from the $981 million reported a year ago.

The RBI said the data is provisional and subject to revision based on final reporting by banks. Outward FDI commitments comprise equity, loans and guarantees. The amount of outward guarantees issued fell sharply to $528 million, month on month to $2.29 billion reported in August.

Equity outflows were led by Sun Pharma Laboratories ($1.99 billion), followed by the $146 million investment by White Oak Investment Management and Knack Global Pvt Ltd $48 million outflow.On the loan side, construction company Highway Constructions $80 million transfer to its UK subsidiary was the highest during the month. Paharpur Cooling Towers also issued a $103 million guarantee to its Singapore subsidiary in September, the data showed.
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