India’s Overseas Investment Commitments Drop 37% in September 2026

Indian companies committed $4.34 billion to overseas investments in September 2026, nearly 37% less than in August 2026, according to Reserve Bank of India (RBI) data. The decline was largely driven by a steep drop in guarantees issued for overseas investments. 

Guarantees fell 77% month-on-month to $528.21 million. Equity commitments also declined, though they remained higher than a year earlier. 

Equity and Loan Commitments Show Mixed Trends 

Equity commitments fell to $3.27 billion in September from $4.11 billion in August, a drop of around 20%. However, the figure was nearly 26% higher than the $2.59 billion recorded in September 2025. 

Loan commitments moved in the opposite direction, rising nearly 16% to $549.16 million from $473.52 million in August. 

These figures cover equity investments, loans and guarantees provided by Indian entities to their overseas subsidiaries and joint ventures. They do not necessarily represent money actually sent abroad. 

Net FDI Inflows Rise 

While overseas investment commitments slowed, India’s net foreign direct investment inflows increased to $13.8 billion during April–August FY27, compared with $9.6 billion in the same period a year earlier, according to the RBI’s October bulletin. 

The central bank attributed the increase to slower outward investment and sustained higher gross FDI inflows. 

Netherlands Leads as Investment Destination 

The Netherlands attracted the largest share of India’s overseas investment commitments in September at $2.16 billion. Singapore followed with $644.23 million, while the US received $383.70 million. 

The UAE attracted $348.40 million and the UK received $280.32 million. Together, the Netherlands and Singapore accounted for around 65% of the total commitments. 

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Conclusion 

India’s overseas investment commitments eased in September, with the fall in guarantees accounting for much of the decline. At the same time, equity commitments remained above their year-earlier level and net FDI inflows continued to grow. 

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