These Two States Drew $26 Billion, Made Up 51% Of India’s FDI Inflows In 2024-25

Last Updated:June 09, 2025, 14:14 is

According to experts, improved infrastructure in Maharashtra and Karnataka has boosted FDI, with economists noting it has made both states more appealing to foreign investors

Maharashtra and Karnataka together accounted for 51% of India’s total Foreign Direct Investment (FDI) inflows in the financial year 2024–25, according to the latest data released by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry.

Maharashtra led the nation by attracting $19.6 billion in foreign investments during April-March 2024-25, representing 31 per cent of the total FDI. Karnataka followed with $6.62 billion in foreign investment during the same period. Other states that saw significant FDI inflows include Delhi ($6 billion), Gujarat ($5.71 billion), Tamil Nadu ($3.68 billion), Haryana ($3.14 billion), and Telangana ($3 billion).

Experts attribute this substantial investment in Maharashtra and Karnataka to significant improvements in infrastructure. An economist noted that the enhanced infrastructure has made these states increasingly attractive to foreign investors.

Overall, FDI in India rose by 14% to $81.04 billion in FY25 — the highest in the last three years — up from $71.3 billion in FY2023-24.

This figure includes equity inflows, reinvested earnings, and other capital. Over the past decade, FDI equity inflows have more than doubled, reaching over $500 billion between 2014 and 2024, compared to $208 billion in the previous decade.

Sanjay Nayar, Chairman of Industry Chamber Assocham, highlighted in a recent article that $300 billion of this investment was received between 2019 and 2024, indicating the rapid growth of the Indian economy’s appeal to global investors.

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