Balance of Payments
Capital Account and FDI Flows
India's Balance of Payments (BoP) is compiled by the RBI quarterly. The Financial Account of the BoP records: FDI (inward and outward), FPI (equity and debt), ECBs, banking capital, NRI deposits, and other investment flows. Net FDI as recorded in the BoP = Inward FDI equity − Outward FDI equity − Repatriation. A near-zero or negative net FDI reduces the capital account surplus, which in turn reduces the overall BoP surplus and limits reserve accumulation. However, India's BoP has remained broadly in surplus due to strong FPI and ECB flows.
- BoP Financial Account (FY2025): positive overall despite net FDI near-zero — offset by FPI and ECB inflows
- FPI (equity + debt) flows in FY2025: volatile but net positive for the year
- ECB inflows (FY2025): strong, supporting the capital account
- NRI remittances (FY2025): ~$120 billion — world's largest; separately recorded in Current Account (Transfers)
- Impact of negative net FDI: reduced capital account surplus, but other flows compensated
- RBI data source: Monthly Bulletin's BoP tables; detailed FDI data in the Annual Report
● Tracked since February 20, 2026 · last seen August 10, 2026 · updates as the daily brief publishes
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