Maharashtra Tops State FDI Equity Inflows in FY25
Why in the news
DPIIT figures show Maharashtra keeping the lead in state-wise FDI equity inflows for FY25, while Gujarat slid.
Key facts
| State | FY25 ($ bn) | FY24 ($ bn) | Growth | Rank move (FY24 to FY25) |
|---|---|---|---|---|
| Maharashtra | 19.6 | 15.1 | up 29.8% | 1st to 1st |
| Karnataka | 6.62 | 6.57 | up 0.76% | 3rd to 2nd |
| Delhi | 6.1 | 6.5 | down 6.15% | 4th to 3rd |
| Gujarat | 5.7 | 7.3 | down 21.92% | 2nd to 4th |
| Tamil Nadu | 3.7 | 2.4 | up 54.17% | 6th to 5th |
- Tamil Nadu has the highest percentage growth; Maharashtra the highest absolute gain.
- Net FDI plunged 96% to $0.35 billion, yet gross FDI rose 14% to $81 billion on reinvested earnings and equity inflows.
Cumulative inflow, October 2019 to March 2025
- Maharashtra leads at roughly $61.3 billion, followed by Haryana (about $57.6 billion), Goa (about $44.9 billion) and Gujarat (about $37.8 billion).
Implications
- Tamil Nadu and Maharashtra gained through infrastructure, ease-of-doing-business reforms and sector policies.
- Net FDI fall needs a look at repatriation, disinvestment and M&A; Gujarat may need policy recalibration.
Exam angle
- Data source: DPIIT; know net versus gross FDI.