NEW DELHI: India recorded its highest-ever annual Foreign Direct Investment (FDI) inflow of USD 94.53 billion in 2025-26, taking cumulative inflows over the 2014-15 to 2025-26 period to USD 843 billion, Commerce and Industry Minister Piyush Goyal said on Friday.
Goyal shared the figures as the country marked the 12th anniversary of the ‘Make in India’ initiative, highlighting the government’s efforts to attract investment, strengthen domestic manufacturing and improve the business environment.
According to the minister, the Production Linked Incentive (PLI) schemes have also generated significant economic activity. As of March 31, the schemes had resulted in actual investments of Rs 2.40 lakh crore, while production and sales reached Rs 23.8 lakh crore.
Exports generated under the PLI framework stood at Rs 15.2 lakh crore, while the schemes created more than 14.6 lakh direct and indirect employment opportunities, Goyal said.
The electronics and telecommunications sectors have emerged among the major beneficiaries of the incentive programme. Pharmaceuticals, medical devices, automobiles, IT hardware and speciality steel have also recorded substantial benefits under the PLI framework.
Goyal said the latest figures reflected the growing scale of India’s investment and manufacturing ecosystem. He noted that policy measures introduced over the past decade have focused on creating conditions for businesses to expand production and participate more actively in global supply chains.
The government has also been developing greenfield industrial smart cities under the National Industrial Corridor Development Programme. These projects are intended to provide modern industrial infrastructure and support manufacturing activities across different regions of the country.
The minister said reforms under the Ease of Doing Business initiative have simplified regulations and reduced compliance requirements for businesses. Sector-specific reforms, he added, have opened additional opportunities for investment and manufacturing.
Digital commerce has also expanded during this period. Goyal said more than 470 crore orders have been placed through the Open Network for Digital Commerce (ONDC), reflecting the growing adoption of digital platforms in India’s commercial ecosystem.
The government has positioned the Make in India initiative as a key component of its strategy to increase domestic manufacturing, attract foreign investment and improve India’s integration with international production networks.
The record annual FDI figure comes as India continues to seek greater investment across manufacturing, technology, infrastructure and other sectors. Higher foreign investment can provide capital for business expansion while also contributing to technology transfer, employment and integration with global markets.
The PLI programme is another major element of the government’s manufacturing strategy. Rather than providing incentives solely on the basis of investment, the schemes link financial support to specified production and performance parameters in selected sectors.
The figures cited by Goyal indicate the scale of investment, output and exports associated with the programme through March 31. The government has used the initiative to encourage companies to establish or expand manufacturing operations in India in areas considered strategically important.
Electronics and telecom manufacturing have received particular attention as India seeks to expand its role in global technology supply chains. Other sectors covered by the schemes include pharmaceuticals, medical devices, automobiles, IT hardware and speciality steel.
Alongside financial incentives, industrial infrastructure has been another focus of the government’s manufacturing policy. The National Industrial Corridor Development Programme aims to develop industrial regions with supporting infrastructure to facilitate investment and production.
Goyal’s remarks also highlighted regulatory reforms as part of the broader investment environment. Simplification of procedures and efforts to reduce compliance obligations have been presented by the government as measures intended to make it easier for companies to establish and operate businesses in India.
The expansion of digital commerce through ONDC represents another element of the changing business landscape. The platform was created to provide an open network for digital commerce and enable greater participation by businesses and consumers.
With cumulative FDI inflows reaching USD 843 billion over the 12-year period, the government is highlighting investment growth alongside its manufacturing and digital commerce initiatives. The latest figures form part of the broader assessment of the Make in India programme as it completes 12 years.
The government is continuing to focus on attracting investment, increasing manufacturing capacity and strengthening India’s position in global supply chains. The combination of FDI, production incentives, industrial infrastructure and regulatory reforms remains central to its strategy for expanding the country’s industrial and investment base.