India's FDI hits record $94.53 billion in FY26; cumulative inflows reach $843 billion: Piyush Goyal

Foreign Direct Investment (FDI) into India touched an all-time high of $94.53 billion in 2025-26, while cumulative FDI inflows between FY2014-15 and FY2025-26 reached $843 billion, Commerce and Industry Minister Piyush Goyal said on Friday.

Goyal said the figures reflected the progress made under the government's 'Make in India' initiative, as the campaign marked its 12th anniversary on September 25.

"The numbers tell an encouraging story. India recorded its highest-ever annual FDI inflow of $94.53 billion in FY 2025-26, while cumulative FDI inflows from FY 2014-15 to FY 2025-26 reached $843 billion," Goyal said in a social media post.

PLI schemes drive investment and production

As of March 31, the Production Linked Incentive (PLI) schemes had resulted in actual investments of ₹2.40 lakh crore, while production and sales stood at ₹23.8 lakh crore, Goyal said.

The schemes have also generated more than 14.6 lakh direct and indirect jobs and resulted in exports worth ₹15.2 lakh crore, he added.

Sectors including electronics and telecom, pharmaceuticals, medical devices, automobiles, IT hardware and speciality steel have significantly benefited from the PLI schemes.

Goyal also said greenfield industrial smart cities are being developed across the country under the National Industrial Corridor Development Programme to create infrastructure for globally competitive manufacturing.

"Ease of Doing Business reforms have simplified regulations and reduced the compliance burden, while reforms in key sectors have created new opportunities for investment and manufacturing," he said.

He added that more than 470 crore orders have been placed through the Open Network for Digital Commerce (ONDC).

India, Australia working on CECA, investment treaty

Separately, Goyal said India and Australia are working towards a comprehensive economic cooperation agreement and a Bilateral Investment Treaty (BIT) to boost two-way trade and strengthen economic ties.

Addressing ICAI's first Oceania International Conference 2026 in Australia, the minister said the two countries could deepen cooperation in areas including education and critical minerals.

India and Australia implemented the Economic Cooperation and Trade Agreement (ECTA) in 2022 and are now negotiating to expand its scope into a Comprehensive Economic Cooperation Agreement (CECA).

"Now we have decided to work towards a very balanced, fair and equitable, comprehensive economic cooperation agreement, which will also take our relationship to greater heights. We are working with Australia to have a bilateral investment treaty also," he said.

BITs provide protection to investments in other countries and help promote two-way investments.

Goyal said India and Australia complement each other, with Australia having critical mineral resources and India focusing on manufacturing and processing capabilities. He also highlighted the potential for cooperation between Australian universities and India's young workforce, as well as in the area of patient capital.

"We are looking to have Australia and India as a trusted partnership. We both complement each other. Australia has critical minerals. We have manufacturing and processing ambitions. Australian universities and our young talent complement each other. Australia's patient capital and our appetite for growth complement each other," Goyal said.

The minister said the two countries had also addressed cross-border taxation issues faced by several service providers, particularly IT companies, and had increased engagement on mutual due diligence to reduce compliance burdens.

Focus on education and professional services

Goyal urged members of the Institute of Chartered Accountants of India (ICAI) to become "architects of innovation and sustainable enterprises" and help create opportunities in renewable energy technologies, critical minerals and education.

He suggested exploring dual-degree programmes for students from India and Australia, including opportunities for Australian students to spend six months or a year in India.

He also called for greater cooperation among professional accounting bodies to facilitate the movement of chartered accountants and other professionals between the two countries.

Goyal said institutes such as ICAI, Chartered Accountants Australia and New Zealand (CA ANZ) and CPA Australia could work together through a deeper mutual recognition agreement to enable a more seamless flow of professionals between India and Australia.

CA ANZ and CPA Australia are two leading professional accounting organisations in Australia.