India Climbs to 15th Spot Among Top Global FDI Destinations in 2024: UNCTAD Report
New Delhi, June 19, 2025 — India has ascended to the 15th position in the ranking of global Foreign Direct Investment (FDI) destinations for 2024, maintaining steady inflows despite a global downturn, according to the latest World Investment Report 2025 released by the United Nations Conference on Trade and Development (UNCTAD).
Steady FDI Inflows Amid Global Decline
The report highlights that India’s FDI inflows held firm at $28 billion in calendar year 2024, matching the previous year’s figure despite an 11% drop in global FDI flows. This resilience comes after a steep 43% plunge in 2023, underscoring India’s ability to stabilize and sustain foreign investment at a substantial level.
According to data from India’s Department for Promotion of Industry and Internal Trade (DPIIT), FDI equity inflows in the fiscal year 2024-25 reached $50 billion, marking a 13% increase over the previous fiscal year. Complementing this, Reserve Bank of India (RBI) data showed net FDI flows, excluding repatriation, of approximately $29 billion for FY25. “UNCTAD applies the RBI’s methodology for calculating net FDI flows and reports using a calendar year basis. This consistency enables more accurate comparisons year-on-year,” explained Biswajit Dhar, distinguished professor at the Council for Social Development.
Robust Project Activity and Capital Expenditure Leadership in Asia
India continues to stand out in greenfield investment projects, holding the 4th position globally in terms of the number of new project announcements, unchanged from 2023. However, the country slipped to the 5th spot from 2nd in international project finance (IPF) deals, recording 97 such deals in 2024. The report draws attention to India’s strong projected capital expenditures, which surged by more than 25% to $110 billion, representing nearly a third of Asia’s total projected investments. This marks India as a leading destination for industrial investments and new initiatives in the region.
“The divergence between growth in greenfield projects and the concentration of IPF deals in mature and large emerging markets illustrates a wider global trend. Industrial investment is vigorous in India, while infrastructure financing remains more regionally concentrated,” the UNCTAD report noted.
Global Context and Regional Comparisons
The United States retained its position as the top recipient of FDI globally, followed by Singapore and Hong Kong, both of which moved up one rank in 2024. China, by contrast, slipped to 4th place with inflows decreasing from $163 billion in 2023 to $116 billion in 2024. In the broader developing economies landscape, India, along with Brazil and Chile, now account for over 30% of international projects, doubling their share from before 2018. This growth is underpinned by strong renewable energy initiatives and expanding technological investments.
Major Technology and Media Investments Highlight India’s Market
The report also underscores significant investments by multinational corporations into India’s technology and media sectors. Microsoft’s $3 billion investment to boost its Cloud and Artificial Intelligence infrastructure marks one of the largest technology commitments. Meanwhile, Walt Disney’s partial exit from the Indian market via a $3 billion merger of Star India with Viacom 18 Media has created a new media joint venture majority owned by Indian firms.
Additionally, several international pharmaceutical assets in India have been transferred to local ownership, reflecting shifts in cross-border mergers and acquisitions activity within developing Asia.
Implications and Outlook
The UNCTAD report suggests that while project numbers have generally increased across regions, only a handful of countries, including India, have experienced substantial rises in the value of new projects. Developed economies attracted 53% of global international private equity investments, with developing Asia garnering 46%, of which India emerged as the prime beneficiary.
Analysts note that India’s stable FDI inflows amid a global decline signal growing investor confidence and a maturing market environment. However, the country faces the ongoing challenge of enhancing its investment climate to attract even greater foreign participation and capital inflows.
About UNCTAD’s World Investment Report
The World Investment Report is an annual publication that analyses global trends in foreign direct investment, including stock and flow data, cross-border mergers and acquisitions, greenfield projects, and international project finance deals. It serves as a key resource for policymakers, investors, and business leaders worldwide.
For more insights and detailed data, refer to the full UNCTAD World Investment Report 2025 and related analyses.
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Smart Money Mindset will keep tracking the evolving landscape of global and Indian investment flows. Stay tuned for updates and expert commentary.