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PDF - Census on Foreign Liabilities and Assets of Indian Direct Investment Entities for 2025-26 ()
Date : Nov 06, 2026
Census on Foreign Liabilities and Assets of Indian Direct Investment Entities for 2025-26

Today, the Reserve Bank released the provisional results of the 2025-261 round of the annual census on foreign liabilities and assets (FLA) covering cross-border liabilities and assets of the Indian entities [viz., companies, limited liability partnerships (LLPs), alternative investment funds (AIFs) and partnership firms] with inward/outward direct investment. The FLA census captures detailed information on foreign liabilities and assets in terms of direct investment, portfolio investment and other investments comprising of trade credit, loans, currency & deposits and other payables and receivables accounts, activity sector, sales, purchase, exports, and imports. The variations in outstanding foreign assets / liabilities between the beginning and end of a financial year would be different from flows recorded in India’s balance of payments (BoP) statistics during the year, as the former would also include valuation changes due to price and exchange rate movements.

Key highlights:

  • Of the total number of Indian entities reporting foreign direct investment (FDI) and/or overseas direct investment (ODI), around 97 per cent entities were unlisted as at end-March 2026, and also held a major share in total FDI equity capital (at face value) in India (Tables 1 and 2A).

  • Non-financial companies accounted for more than 90 per cent of the FDI equity at face value (Table 2B).

  • In terms of market value, listed and unlisted companies had almost equal share in total FDI equity capital as at end-March 2026, however, 96.6 per cent of the FDI debt is held by unlisted companies (Table 3A).

  • In rupee terms, the ratio of inward FDI to ODI moderated to 4.2 times as on end-March 2026 from 5.5 times a year ago (Table 3B).

  • Other investment liabilities [viz., trade credit, loans, currency and deposits, and other payables with unrelated (third party) non-resident entities] recorded a growth of 11.9 per cent (y-o-y) in rupee terms as on end-March 2026; other investment assets with unrelated non-residents also rose by 16.1 per cent during the same period (Table 4).

  • The United States of America (16.5 per cent) followed by Mauritius (14.5 per cent), Singapore (13.7 per cent) and the United Kingdom (10.8 per cent) were the top sources of outstanding FDI. In case of ODI, Singapore, the United Arab Emirates and the United States of America were the top destinations together accounting for more than 50 per cent share (Tables 5 and 6).

  • Manufacturing sector accounted for the highest share in the total outstanding FDI equity capital at market value (50.1 per cent), while 45 per cent share was held by services sector (Tables 7 and 8).

(Brij Raj)           
Chief General Manager

Press Release: 2026-2027/1463

Table 1: Coverage in FLA Census, 2025-26
Category Types of Entities Number of Entities with Direct Investment
Both Inward and Outward Only Inward Only Outward Total
1 2 3 4 5 6
Unlisted Foreign Associate companies in India 560 6,091   6,651
Foreign Subsidiary companies in India 503 26,742   27,245
Alternative Investment Funds 95 597 27 719
LLP1 and Partnership Firms 11 1,175 807 1,993
Other companies2     5,206 5,206
Total 1,169 34,605 6,040 41,814
Listed Foreign Associate companies in India 112 154   266
Foreign Subsidiary companies in India 42 86   128
Other companies     915 915
Total 154 240 915 1,309
Grand Total 1,323 34,845 6,955 43,123
Note: 43,123 entities reported FDI and/or ODI as on end-March 2026. Of these entities, 36,127 had also reported in the previous round of FLA census. 36,168 Indian entities reported inward direct investment, out of which about 75 per cent companies were subsidiaries of foreign companies. Indian entity is defined as foreign subsidiary if a single foreign investor holds more than 50 per cent of total equity of Indian entity.
1LLP: Limited Liabilities Partnership; 2 Includes entities who have only overseas direct investment

Table 2A: Foreign Equity Participation of FDI Entities – Listed and Unlisted
(amount in ₹ crore at face value, end-March 2026)
Category Listed Unlisted Total
(394) (35,774) (36,168)
Amount per cent Amount per cent Amount
1 2 3 4 5 6
Paid-Up Capital 66,973 4.8 13,37,846 95.2 14,04,819
of which: Equity Capital 66,779 4.9 12,91,219 95.1 13,57,998
of which: FDI Equity Capital 23,353 2.1 10,85,061 97.9 11,08,415
Note: 1. Numbers in parenthesis indicate the number of entities in the respective category.
2. Components may not add up to the total due to rounding off (applicable for all tables).

Table 2B: Foreign Equity Participation of FDI Entities – Financial and Non-Financial
(amount in ₹ crore at face value, end-March 2026)
Category No of Entities Paid-up Capital (PUC) Total Equity (PUC excluding Non-Participating Preference Shares) Equity exclusively under FDI scheme Share of FDI in Total Equity (%)
1 2 3 4 5 6
Financial 1,343 1,41,514 1,36,433 1,02,444 75.1
Non-Financial 34,825 12,63,305 12,21,565 10,05,971 82.4
Total 36,168 14,04,819 13,57,998 11,08,415 81.6

Table 3A: Inward Direct Investment for Listed and Unlisted Entities^
(amount in ₹ crore at market value, end-March)
Direct Investment Listed Entities Unlisted Entities Total Growth in Total (%)
2025 2026 2025 2026 2025 2026
1 2 3 4 5 6=2+4 7=3+5 8
Equity 32,30,637 33,25,744 30,73,833 35,19,233 63,04,470 68,44,977 8.6
Debt 10,777 7,706 2,02,132 2,19,262 2,12,909 2,26,968 6.6
Total 32,41,414 33,33,450 32,75,965 37,38,495 65,17,379 70,71,945 8.5
^: Market value of equity of unlisted companies is compiled as per the own fund book value (OFBV) method prescribed by the Balance of Payments manual of the International Monetary Fund (IMF), while for equity valuation of listed companies, closing share prices as on end of the reference period are used.

Table 3B: Total Inward and Outward Direct Investment
(amount at market value, end-March)
Direct Investment Inward Outward
2025 2026 2025 2026
₹ crore US$ million ₹ crore US$ million ₹ crore US$ million ₹ crore US$ million
1 2 3 4 5 6 7 8 9
Equity 63,04,470 736,664 68,44,977 723,155 10,09,490 117,957 13,30,455 140,559
Debt 2,12,909 24,878 2,26,968 23,979 1,77,254 20,712 3,41,008 36,027
Total 65,17,379 761,542 70,71,945 747,134 11,86,744 138,669 16,71,463 176,586
Note: The amount in US$ terms is arrived at by using financial year-end rupee/ dollar exchange rate. This is applicable to all the relevant tables.

Table 4: Other Foreign Liabilities and Assets of Direct Investment Entities
(amount at market value, end-March)
Other Investment Outstanding Liabilities with Unrelated Non-resident Party Outstanding Assets with Unrelated Non-resident Party
2025 2026 2025 2026
₹ crore US$ million ₹ crore US$ million ₹ crore US$ million ₹ crore US$ million
1 2 3 4 5 6 7 8 9
Trade Credits 4,53,436 52,983 4,92,550 52,037 5,87,835 68,687 6,56,179 69,324
Loans 14,58,663 170,442 16,47,470 174,051 4,65,976 54,448 5,37,347 56,769
Currency and Deposits 9,46,248 110,567 10,56,029 111,567 3,06,868 35,857 3,64,329 38,491
Other Receivable and Payable accounts 2,10,859 24,638 2,37,074 25,046 1,26,960 14,835 1,68,548 17,807
Total 30,69,207 358,630 34,33,123 362,701 14,87,637 173,827 17,26,404 182,390

Table 5: Country-wise Distribution of Inward Direct Investment
(amount in ₹ crore at market value, end-March)
Country Name Equity Debt Total FDI Share in Total FDI (end-March 2026)
2025 2026 2025 2026 2025 2026
1 2 3 4 5 6=2+4 7=3+5 8
United States of America 11,54,468 11,46,530 1,629 21,470 11,56,096 11,68,000 16.5
Mauritius 9,55,549 10,07,616 19,164 16,859 9,74,713 10,24,475 14.5
Singapore 8,30,500 9,13,080 50,644 54,666 8,81,144 9,67,746 13.7
United Kingdom 7,56,836 7,59,572 4,615 2,231 7,61,451 7,61,803 10.8
Netherlands 6,42,239 7,12,108 14,762 11,050 6,57,001 7,23,157 10.2
Japan 5,61,467 6,19,292 12,332 17,588 5,73,800 6,36,880 9.0
Switzerland 3,80,016 4,37,135 4,741 5,226 3,84,756 4,42,361 6.3
Germany 2,08,971 2,18,514 11,518 7,725 2,20,489 2,26,239 3.2
South Korea 1,12,250 2,08,693 7,796 8,708 1,20,046 2,17,401 3.1
France 1,53,526 1,69,937 5,562 8,043 1,59,089 1,77,980 2.5
Other Countries 5,48,648 6,52,501 80,146 73,402 6,28,794 7,25,903 10.3
All countries 63,04,470 68,44,977 2,12,909 2,26,968 65,17,379 70,71,945 100.0

Table 6: Country-wise Distribution of Outward Direct Investment
(amount in ₹ crore at market value, end-March)
Country Name Equity Debt Total ODI Share in Total ODI (end-March 2026)
2025 2026 2025 2026 2025 2026
1 2 3 4 5 6=2+4 7=3+5 8
Singapore 234,426 3,26,617 23,070 26,205 2,57,496 3,52,822 21.1
United Arab Emirates 86,593 1,18,329 17,644 1,52,778 1,04,236 2,71,107 16.2
United States of America 133,409 1,81,753 41,298 50,029 1,74,706 2,31,782 13.9
United Kingdom 142,570 1,86,200 19,108 21,375 1,61,678 2,07,575 12.4
Netherlands 100,257 1,21,836 13,509 14,760 1,13,766 1,36,596 8.2
Mauritius 87,500 1,12,272 14,349 20,512 1,01,849 1,32,785 7.9
Switzerland 36,516 42,434 12,392 13,139 48,908 55,574 3.3
Cyprus 9,153 9,673 3,265 3,152 12,418 12,825 0.8
China 9,416 12,075 375 298 9,790 12,373 0.7
Jersey 11,693 12,230 111 101 11,804 12,331 0.7
Other Countries 1,57,958 2,07,035 32,135 38,660 1,90,093 2,45,695 14.7
All countries 10,09,490 13,30,455 1,77,254 3,41,008 11,86,744 16,71,463 100.0

Table 7: Activity-wise Distribution of Equity Participation of FDI Entities
(amount in ₹ crore at face value, end-March 2026)
Activity Total Equity (PUC excluding Non-Participating Preference Share) Equity exclusively under FDI scheme Share of FDI in Total Equity (%)
1 2 3 4
1. Agriculture, forestry and fishing 3,304 3,092 93.6
2. Mining and quarrying 1,047 796 76.0
3. Manufacturing 5,21,127 4,52,725 86.9
4. Electricity, gas, steam and air conditioning supply 90,555 68,339 75.5
5. Water supply; sewerage, waste management and remediation activities 4,377 3,259 74.5
6. Construction 61,082 50,503 82.7
7. Information and communication 2,09,316 1,88,030 89.8
8. Other Services 4,67,190 3,41,670 73.1
Total 13,57,998 11,08,415 81.6

Table 8: Activity-wise Distribution of FDI in 36,168 Indian Entities
(amount in ₹ crore at market value, end-March 2026)
Activity No. of entities Equity Debt Total FDI % share in Total FDI
1 2 3 4 5=3+4 6
A. Agriculture, forestry and fishing 167 12,307 356 12,663 0.2
B. Mining and quarrying 157 4,777 366 5,143 0.1
C. Manufacturing 7,586 34,27,882 1,21,675 35,49,558 50.2
Manufacture of food products 317 2,40,953 39,788 2,80,741 4.0
Manufacture of beverages 57 89,990 611 90,601 1.3
Manufacture of tobacco products 6 72,524 - 72,524 1.0
Manufacture of textiles 230 3,351 848 4,199 0.1
Manufacture of wearing apparel 111 12,217 360 12,577 0.2
Manufacture of leather and related products 64 5,392 150 5,542 0.1
Manufacture of wood and products of wood and cork, except furniture; Manufacture of articles of straw and plaiting materials 17 120 89 210 -
Manufacture of paper and paper products 85 5,091 452 5,543 0.1
Printing and reproduction of recorded media 28 840 -5 835 -
Manufacture of coke and refined petroleum products 32 93,986 459 94,445 1.3
Manufacture of chemicals and chemical products 555 2,21,077 9,529 2,30,607 3.3
Manufacture of basic pharmaceutical products and pharmaceutical preparations 355 2,20,775 704 2,21,479 3.1
Manufacture of rubber and plastics products 324 59,783 2,769 62,552 0.9
Manufacture of other non-metallic mineral products 75 27,131 1,085 28,216 0.4
Manufacture of basic metals 162 2,50,523 815 2,51,338 3.6
Manufacture of fabricated metal products, except machinery and equipment 292 29,873 2,272 32,145 0.5
Manufacture of computer, electronic and optical products 273 2,13,242 4,127 2,17,369 3.1
Manufacture of electrical equipment 608 3,51,509 3,350 3,54,859 5.0
Manufacture of machinery and equipment not elsewhere classified 1,303 3,34,332 28,925 3,63,257 5.1
Manufacture of motor vehicles, trailers and semi-trailers 242 3,93,441 4,294 3,97,735 5.6
Manufacture of other transport equipment 168 47,178 2,067 49,245 0.7
Manufacture of furniture 61 2,851 30 2,881 -
Repair, maintenance and installation of machinery and equipment 255 11,949 691 12,640 0.2
Other manufacturing 1,966 7,39,754 18,266 7,58,020 10.7
D. Electricity, gas, steam and air conditioning supply 967 1,73,007 20,674 1,93,682 2.7
E. Water supply; sewerage, waste management and remediation activities 183 5,759 -316 5,443 0.1
F. Construction 935 1,10,486 23,775 1,34,261 1.9
G. Services 26,173 31,10,757 60,437 31,71,195 44.8
Wholesale and retail trade 2,518 1,54,477 13,736 1,68,212 2.4
Transportation and storage 839 99,439 19,833 1,19,272 1.7
Accommodation and Food service activities 667 49,133 1,508 50,641 0.7
Telecommunications, computer programming, consultancy, computing infrastructure, and other information service activities 9,900 10,55,188 -8,994 10,46,194 14.8
Financial and insurance activities 1,632 11,40,706 4,710 11,45,415 16.2
Real estate activities 379 30,286 5,836 36,122 0.5
Other service activities 10,238 5,81,528 23,810 6,05,338 8.6
Total 36,168 68,44,977 2,26,968 70,71,945 100.0

Table 9A: Activity-wise Sales of Foreign Subsidiary Companies in India*
(amount in ₹ crore at market value, end-March)
Activity No. of entities 2024-25 2025-26 Share in Total (2025-26) (%)
1 2 3 4 5
A. Agriculture, forestry and fishing 76 10,853 12,836 0.2
B. Mining and quarrying 50 3,687 4,420 0.1
C. Manufacturing 4,664 27,41,799 30,76,918 47.0
Manufacture of food products 167 1,33,580 1,51,099 2.3
Manufacture of beverages 25 1,03,865 1,04,968 1.6
Manufacture of tobacco products 1 246 393 -
Manufacture of textiles 103 11,868 11,241 0.2
Manufacture of wearing apparel 61 6,483 5,865 0.1
Manufacture of leather and related products 32 6,594 7,128 0.1
Manufacture of wood and products of wood and cork, except furniture; Manufacture of articles of straw and plaiting materials 9 324 320 -
Manufacture of paper and paper products 46 14,295 14,679 0.2
Printing and reproduction of recorded media 17 1,879 2,224 -
Manufacture of coke and refined petroleum products 16 34,855 40,360 0.6
Manufacture of chemicals and chemical products 346 2,08,695 2,32,088 3.5
Manufacture of basic pharmaceutical products and pharmaceutical preparations 190 92,859 1,01,458 1.5
Manufacture of rubber and plastics products 216 71,419 73,250 1.1
Manufacture of other non-metallic mineral products 43 13,118 13,478 0.2
Manufacture of basic metals 88 95,073 1,09,469 1.7
Manufacture of fabricated metal products, except machinery and equipment 171 39,007 43,605 0.7
Manufacture of computer, electronic and optical products 162 3,36,233 3,79,060 5.8
Manufacture of electrical equipment 400 1,90,739 2,14,026 3.3
Manufacture of machinery and equipment not elsewhere classified 898 2,60,873 2,98,223 4.6
Manufacture of motor vehicles, trailers and semi-trailers 149 5,03,845 5,58,228 8.5
Manufacture of other transport equipment 102 66,672 78,446 1.2
Manufacture of furniture 27 4,875 5,037 0.1
Repair, maintenance and installation of machinery and equipment 196 17,007 20,076 0.3
Other manufacturing 1,199 5,27,396 6,12,198 9.3
D. Electricity, gas, steam and air conditioning supply 439 51,156 57,545 0.9
E. Water supply; sewerage, waste management and remediation activities 93 8,740 9,565 0.1
F. Construction 364 40,329 39,656 0.6
G. Services 16,909 30,05,501 33,47,810 51.1
Wholesale and retail trade 1,633 5,68,837 6,53,636 10.0
Transportation and storage 500 1,20,621 1,20,242 1.8
Accommodation and Food service activities 252 22,335 24,820 0.4
Telecommunications, computer programming, consultancy, computing infrastructure, and other information service activities 7,313 14,38,058 15,71,343 24.0
Financial and insurance activities 410 1,61,925 1,74,991 2.7
Real estate activities 115 22,222 25,285 0.4
Other service activities 6,686 6,71,503 777,492 11.9
Total 22,595 58,62,066 65,48,749 100.0
* Of the 27,373 subsidiaries, 22,595 reported sales.

Table 9B: Activity-wise Purchase of Foreign Subsidiary Companies in India*
(amount in ₹ crore at market value, end-March)
Activity No. of entities 2024-25 2025-26 Share in Total (2025-26) (%)
1 2 3 4 5
A. Agriculture, forestry and fishing 72 7,888 8,960 0.2
B. Mining and quarrying 47 2,170 2,542 0.1
C. Manufacturing 4,685 19,98,959 22,38,190 49.9
Manufacture of food products 174 1,04,895 1,24,080 2.8
Manufacture of beverages 27 45,427 47,515 1.1
Manufacture of tobacco products 1 162 222 -
Manufacture of textiles 101 10,168 7,962 0.2
Manufacture of wearing apparel 61 4,998 4,796 0.1
Manufacture of leather and related products 32 3,545 3,923 0.1
Manufacture of wood and products of wood and cork, except furniture; Manufacture of articles of straw and plaiting materials 9 251 221 -
Manufacture of paper and paper products 49 11,297 10,946 0.2
Printing and reproduction of recorded media 13 1,507 1,854 -
Manufacture of coke and refined petroleum products 15 27,272 30,475 0.7
Manufacture of chemicals and chemical products 342 1,63,096 1,63,096 3.6
Manufacture of basic pharmaceutical products and pharmaceutical preparations 188 58,464 67,791 1.5
Manufacture of rubber and plastics products 224 52,606 52,866 1.2
Manufacture of other non-metallic mineral products 44 7,320 7,434 0.2
Manufacture of basic metals 94 82,978 1,02,737 2.3
Manufacture of fabricated metal products, except machinery and equipment 182 25,867 29,323 0.7
Manufacture of computer, electronic and optical products 163 2,64,414 2,58,429 5.8
Manufacture of electrical equipment 400 1,42,339 1,55,023 3.5
Manufacture of machinery and equipment not elsewhere classified 886 2,00,051 2,29,411 5.1
Manufacture of motor vehicles, trailers and semi-trailers 148 3,60,508 4,01,058 8.9
Manufacture of other transport equipment 108 50,231 61,783 1.4
Manufacture of furniture 26 4,071 4,106 0.1
Repair, maintenance and installation of machinery and equipment 194 11,104 13,852 0.3
Other manufacturing 1,204 3,66,388 4,59,285 10.2
D. Electricity, gas, steam and air conditioning supply 471 45,084 50,546 1.1
E. Water supply; sewerage, waste management and remediation activities 88 5,589 6,211 0.1
F. Construction 374 32,255 29,230 0.7
G. Services 12,666 19,99,046 21,50,579 47.9
Wholesale and retail trade 1,623 3,96,080 4,48,897 10.0
Transportation and storage 494 94,137 96,166 2.1
Accommodation and Food service activities 225 12,577 14,097 0.3
Telecommunications, computer programming, consultancy, computing infrastructure, and other information service activities 4,905 7,51,726 8,49,882 18.9
Financial and insurance activities 325 89,786 1,03,742 2.3
Real estate activities 112 19,253 20,261 0.5
Other service activities 4,982 6,35,486 6,17,534 13.8
Total 18,403 40,90,991 44,86,259 100.0
* Of the 27,373 subsidiaries, 18,403 reported purchases.

Table 9C: Activity-wise Export of Foreign Subsidiary Companies in India*
(amount in ₹ crore at market value, end-March)
Activity 2024-25 2025-26
Amount Share in Total Exports (%) Share in Total Sales (%)
1 2 3 4 5
A. Agriculture, forestry and fishing 1,186 1,525 0.1 11.9
B. Mining and quarrying 502 566 - 12.8
C. Manufacturing 5,38,450 6,01,135 25.3 19.5
Manufacture of food products 17,010 16,979 0.7 11.2
Manufacture of beverages 1,606 1,833 0.1 1.7
Manufacture of tobacco products 246 393 - 100.0
Manufacture of textiles 3,465 3,463 0.1 30.8
Manufacture of wearing apparel 3,136 3,019 0.1 51.5
Manufacture of leather and related products 1,039 1,151 0.0 16.1
Manufacture of wood and products of wood and cork, except furniture; Manufacture of articles of straw and plaiting materials 28 46 - 14.3
Manufacture of paper and paper products 2,660 2,362 0.1 16.1
Printing and reproduction of recorded media 1,165 1,371 0.1 61.6
Manufacture of coke and refined petroleum products 12,501 12,624 0.5 31.3
Manufacture of chemicals and chemical products 37,633 39,956 1.7 17.2
Manufacture of basic pharmaceutical products and pharmaceutical preparations 39,363 44,839 1.9 44.2
Manufacture of rubber and plastics products 14,275 14,211 0.6 19.4
Manufacture of other non-metallic mineral products 2,375 2,056 0.1 15.3
Manufacture of basic metals 6,439 8,120 0.3 7.4
Manufacture of fabricated metal products, except machinery and equipment 7,518 9,024 0.4 20.7
Manufacture of computer, electronic and optical products 75,271 77,816 3.3 20.5
Manufacture of electrical equipment 39,267 47,227 2.0 22.1
Manufacture of machinery and equipment not elsewhere classified 64,732 70,854 3.0 23.8
Manufacture of motor vehicles, trailers and semi-trailers 86,594 1,00,201 4.2 17.9
Manufacture of other transport equipment 19,087 22,584 1.0 28.8
Manufacture of furniture 844 706 - 14.0
Repair, maintenance and installation of machinery and equipment 3,389 4,042 0.2 20.1
Other manufacturing 98,807 1,16,258 4.9 19.0
D. Electricity, gas, steam and air conditioning supply 3,825 3,280 0.1 5.7
E. Water supply; sewerage, waste management and remediation activities 867 1,090 - 11.4
F. Construction 3,731 4,571 0.2 11.5
G. Services 15,30,146 17,63,464 74.2 52.7
Wholesale and retail trade 55,389 50,011 2.1 7.7
Transportation and storage 25,892 25,640 1.1 21.3
Accommodation and Food service activities 2,808 3,739 0.2 15.1
Telecommunications, computer programming, consultancy, computing infrastructure, and other information service activities 10,61,597 12,25,820 51.6 78.0
Financial and insurance activities 10,816 12,181 0.5 7.0
Real estate activities 936 1,442 0.1 5.7
Other service activities 3,72,707 4,44,631 18.7 57.2
Total 20,78,706 23,75,631 100.0 36.3
* Of the 27,373 subsidiaries, 17,443 reported exports.

Table 9D: Activity-wise Import of Foreign Subsidiary Companies in India*
(amount in ₹ crore at market value, end-March)
Activity 2024-25 2025-26
Amount Share in Total Imports (%) Share in Total Purchase (%)
1 2 3 4 5
A. Agriculture, forestry and fishing 1,445 1,783 0.1 19.9
B. Mining and quarrying 340 474 - 18.7
C. Manufacturing 8,50,336 9,39,200 66.5 42.0
Manufacture of food products 36,231 44,241 3.1 35.7
Manufacture of beverages 4,156 4,543 0.3 9.6
Manufacture of tobacco products 3 2 - 0.9
Manufacture of textiles 2,724 2,072 0.1 26.0
Manufacture of wearing apparel 1,362 1,291 0.1 26.9
Manufacture of leather and related products 953 1,047 0.1 26.7
Manufacture of wood and products of wood and cork, except furniture; Manufacture of articles of straw and plaiting materials 147 100 - 45.2
Manufacture of paper and paper products 4,195 4,012 0.3 36.7
Printing and reproduction of recorded media 382 482 - 26.0
Manufacture of coke and refined petroleum products 10,031 10,790 0.8 35.4
Manufacture of chemicals and chemical products 82,978 80,671 5.7 49.5
Manufacture of basic pharmaceutical products and pharmaceutical preparations 24,643 27,515 1.9 40.6
Manufacture of rubber and plastics products 17,746 20,066 1.4 38.0
Manufacture of other non-metallic mineral products 2,988 2,938 0.2 39.5
Manufacture of basic metals 37,362 41,317 2.9 40.2
Manufacture of fabricated metal products, except machinery and equipment 8,318 10,142 0.7 34.6
Manufacture of computer, electronic and optical products 2,10,485 1,72,374 12.2 66.7
Manufacture of electrical equipment 60,229 65,382 4.6 42.2
Manufacture of machinery and equipment not elsewhere classified 76,042 1,03,516 7.3 45.1
Manufacture of motor vehicles, trailers and semi-trailers 72,723 76,487 5.4 19.1
Manufacture of other transport equipment 16,428 19,041 1.3 30.8
Manufacture of furniture 1,283 1,042 0.1 25.4
Repair, maintenance and installation of machinery and equipment 4,896 5,510 0.4 39.8
Other manufacturing 1,74,030 2,44,619 17.3 53.3
D. Electricity, gas, steam and air conditioning supply 9,282 6,775 0.5 13.4
E. Water supply; sewerage, waste management and remediation activities 332 717 0.1 11.5
F. Construction 4,611 5,306 0.4 18.2
G. Services 4,17,854 4,57,715 32.4 21.3
Wholesale and retail trade 1,77,557 1,89,540 13.4 42.2
Transportation and storage 16,279 17,880 1.3 18.6
Accommodation and Food service activities 1,577 1,856 0.1 13.2
Telecommunications, computer programming, consultancy, computing infrastructure, and other information service activities 1,32,525 1,45,458 10.3 17.1
Financial and insurance activities 10,491 12,603 0.9 12.1
Real estate activities 790 913 0.1 4.5
Other service activities 78,635 89,465 6.3 14.5
Total 12,84,200 14,11,969 100.0 31.5
* Of the 27,373 subsidiaries, 9,443 reported sales.

Table 10A: Activity-wise Sales of 10,898 Overseas Subsidiaries of Indian Entities*
(amount in ₹ crore at market value, end-March)
Activity No. of entities 2024-25 2025-26 Share in Total (2025-26) (%)
1 2 3 4 5
A. Agriculture, forestry and fishing 23 3,858 5,333 0.3
B. Mining and quarrying 45 10,952 7,961 0.5
C. Manufacturing 2,221 8,53,426 10,18,646 58.0
Manufacture of food products 108 16,325 30,349 1.7
Manufacture of beverages 18 10,638 13,473 0.8
Manufacture of tobacco products 6 3,344 3,793 0.2
Manufacture of textiles 81 5,219 7,744 0.4
Manufacture of wearing apparel 40 5,653 6,824 0.4
Manufacture of leather and related products 23 13,364 15,700 0.9
Manufacture of wood and products of wood and cork, except furniture; Manufacture of articles of straw and plaiting materials 8 122 89 -
Manufacture of paper and paper products 13 2,120 2,380 0.1
Printing and reproduction of recorded media 8 90 140 -
Manufacture of coke and refined petroleum products 18 4,88,588 5,28,351 30.1
Manufacture of chemicals and chemical products 248 44,592 55,490 3.2
Manufacture of basic pharmaceutical products and pharmaceutical preparations 367 91,778 1,22,754 7.0
Manufacture of rubber and plastics products 107 7,936 11,669 0.7
Manufacture of other non-metallic mineral products 34 3,818 4,492 0.3
Manufacture of basic metals 42 30,191 37,554 2.1
Manufacture of fabricated metal products, except machinery and equipment 65 9,245 15,137 0.9
Manufacture of computer, electronic and optical products 47 2,567 3,567 0.2
Manufacture of electrical equipment 100 3,676 7,216 0.4
Manufacture of machinery and equipment not elsewhere classified 217 11,995 15,671 0.9
Manufacture of motor vehicles, trailers and semi-trailers 56 17,110 27,685 1.6
Manufacture of other transport equipment 8 3,096 2,984 0.2
Manufacture of furniture 11 572 699 -
Repair, maintenance and installation of machinery and equipment 14 145 269 -
Other manufacturing 582 81,242 1,04,617 6.0
D. Electricity, gas, steam and air conditioning supply 35 4,806 5,847 0.3
E. Water supply; sewerage, waste management and remediation activities 18 406 427 -
F. Construction 87 26,777 41,534 2.4
G. Services 4,464 5,43,721 6,75,884 38.5
Wholesale and retail trade 436 54,775 71,942 4.1
Transportation and storage 218 51,020 67,808 3.9
Accommodation and Food service activities 72 8,253 4,411 0.3
Telecommunications, computer programming, consultancy, computing infrastructure, and other information service activities 2,039 2,96,775 3,24,678 18.5
Financial and insurance activities 200 46,389 35,751 2.0
Real estate activities 42 509 796 -
Other service activities 1,457 86,001 1,70,498 9.7
Total 6,893 14,43,946 17,55,631 100.0
* Of the 10,898 overseas subsidiary companies, 6,893 reported sales. Single Indian company may have multiple overseas subsidiaries.

Table 10B: Activity-wise Purchase of 10,898 Overseas Subsidiaries of Indian Entities*
(amount in ₹ crore at market value, end-March)
Activity No. of entities 2024-25 2025-26 % share in Total (2025-26)
1 2 3 4 5
A. Agriculture, forestry and fishing 23 3,348 4,735 0.3
B. Mining and quarrying 51 4,785 5,372 0.4
C. Manufacturing 2,204 7,52,621 8,70,422 61.4
Manufacture of food products 109 13,726 22,295 1.6
Manufacture of beverages 18 5,361 6,404 0.5
Manufacture of tobacco products 6 733 1,064 0.1
Manufacture of textiles 82 3,399 5,726 0.4
Manufacture of wearing apparel 39 5,368 6,060 0.4
Manufacture of leather and related products 22 12,479 14,610 1.0
Manufacture of wood and products of wood and cork, except furniture; Manufacture of articles of straw and plaiting materials 9 89 62 -
Manufacture of paper and paper products 12 1,899 2,026 0.1
Printing and reproduction of recorded media 7 54 96 -
Manufacture of coke and refined petroleum products 14 4,67,323 5,12,473 36.1
Manufacture of chemicals and chemical products 247 38,468 49,291 3.5
Manufacture of basic pharmaceutical products and pharmaceutical preparations 379 69,076 77,836 5.5
Manufacture of rubber and plastics products 105 7,213 8,147 0.6
Manufacture of other non-metallic mineral products 34 2,431 2,373 0.2
Manufacture of basic metals 40 24,165 27,264 1.9
Manufacture of fabricated metal products, except machinery and equipment 66 7,056 8,102 0.6
Manufacture of computer, electronic and optical products 48 2,059 2,611 0.2
Manufacture of electrical equipment 94 2,950 4,413 0.3
Manufacture of machinery and equipment not elsewhere classified 208 8,396 10,487 0.7
Manufacture of motor vehicles, trailers and semi-trailers 63 15,098 23,792 1.7
Manufacture of other transport equipment 10 840 1,390 0.1
Manufacture of furniture 10 346 376 -
Repair, maintenance and installation of machinery and equipment 11 67 72 -
Other manufacturing 571 64,023 83,451 5.9
D. Electricity, gas, steam and air conditioning supply 43 4,438 5,275 0.4
E. Water supply; sewerage, waste management and remediation activities 14 344 337 -
F. Construction 97 24,757 38,743 2.7
G. Services 3,947 4,10,362 4,93,233 34.8
Wholesale and retail trade 431 49,512 72,855 5.1
Transportation and storage 214 46,084 63,478 4.5
Accommodation and Food service activities 67 3,257 2,755 0.2
Telecommunications, computer programming, consultancy, computing infrastructure, and other information service activities 1,700 1,95,933 2,31,619 16.3
Financial and insurance activities 189 38,128 25,726 1.8
Real estate activities 62 342 356 -
Other service activities 1,284 77,106 96,443 6.8
Total 6,379 12,00,655 14,18,116 100.0
*Of the 10,898 overseas subsidiary companies, 6,379 reported purchases.

Table 10C: Activity-wise Exports of 10,898 Overseas Subsidiaries of Indian Entities*
(amount in ₹ crore at market value, end-March)
Activity 2024-25 2025-26
Amount Amount Share in Total Exports (%) Share in Total Sales (%)
1 2 3 4 5
A. Agriculture, forestry and fishing 2,086 2,249 0.2 42.2
B. Mining and quarrying 2,104 2,409 0.2 30.3
C. Manufacturing 6,36,109 7,19,002 72.4 70.6
Manufacture of food products 6,281 11,784 1.2 38.8
Manufacture of beverages 1,613 1,910 0.2 14.2
Manufacture of tobacco products 61 116 - 3.1
Manufacture of textiles 2,369 2,821 0.3 36.4
Manufacture of wearing apparel 4,851 5,467 0.6 80.1
Manufacture of leather and related products 12,790 15,096 1.5 96.2
Manufacture of wood and products of wood and cork, except furniture; Manufacture of articles of straw and plaiting materials 121 81 - 91.0
Manufacture of paper and paper products 1,044 1,192 0.1 50.1
Printing and reproduction of recorded media 34 54 - 38.6
Manufacture of coke and refined petroleum products 4,79,448 5,18,070 52.2 98.1
Manufacture of chemicals and chemical products 22,146 28,274 2.8 51.0
Manufacture of basic pharmaceutical products and pharmaceutical preparations 26,254 37,297 3.8 30.4
Manufacture of rubber and plastics products 2,888 3,938 0.4 33.7
Manufacture of other non-metallic mineral products 1,133 616 0.1 13.7
Manufacture of basic metals 23,208 24,444 2.5 65.1
Manufacture of fabricated metal products, except machinery and equipment 4,561 7,088 0.7 46.8
Manufacture of computer, electronic and optical products 902 1,218 0.1 34.1
Manufacture of electrical equipment 1,494 2,451 0.2 34.0
Manufacture of machinery and equipment not elsewhere classified 4,326 5,518 0.6 35.2
Manufacture of motor vehicles, trailers and semi-trailers 3,283 4,694 0.5 17.0
Manufacture of other transport equipment 1,091 1,324 0.1 44.4
Manufacture of furniture 117 123 - 17.7
Repair, maintenance and installation of machinery and equipment 62 180 - 67.2
Other manufacturing 36,032 45,244 4.6 43.2
D. Electricity, gas, steam and air conditioning supply 3,381 4,272 0.4 73.1
E. Water supply; sewerage, waste management and remediation activities 127 135 - 31.7
F. Construction 3,458 5,178 0.5 12.5
G. Services 1,98,458 2,59,340 26.1 38.4
Wholesale and retail trade 45,127 47,683 4.8 66.3
Transportation and storage 22,422 22,255 2.2 32.8
Accommodation and Food service activities 45 44 - 1.0
Telecommunications, computer programming, consultancy, computing infrastructure, and other information service activities 62,842 86,042 8.7 26.5
Financial and insurance activities 19,874 9,967 1.0 27.9
Real estate activities 358 335 - 42.1
Other service activities 47,790 93,014 9.4 54.6
Total 8,45,722 9,92,585 100.0 56.5
*Of the 10,898 overseas subsidiary companies, 3,337 reported exports.

Table 10D: Activity-wise Import of 10,898 Overseas Subsidiaries of Indian entities*
(amount in ₹ crore at market value, end-March)
Activity 2024-25 2025-26
Amount Amount Share in Total Imports (%) Share in Total Purchase (%)
1 2 3 4 5
A. Agriculture, forestry and fishing 2,621 3,518 0.6 74.3
B. Mining and quarrying 1,265 1,385 0.2 25.8
C. Manufacturing 3,09,888 3,40,363 58.6 39.1
Manufacture of food products 7,626 11,035 1.9 49.5
Manufacture of beverages 3,357 3,803 0.7 59.4
Manufacture of tobacco products 615 803 0.1 75.5
Manufacture of textiles 2,573 4,215 0.7 73.6
Manufacture of wearing apparel 1,762 1,985 0.3 32.8
Manufacture of leather and related products 12,296 14,404 2.5 98.6
Manufacture of wood and products of wood and cork, except furniture; Manufacture of articles of straw and plaiting materials 68 36 - 58.6
Manufacture of paper and paper products 776 755 0.1 37.3
Printing and reproduction of recorded media 19 36 - 37.7
Manufacture of coke and refined petroleum products 1,07,884 1,01,044 17.4 19.7
Manufacture of chemicals and chemical products 26,234 33,928 5.8 68.8
Manufacture of basic pharmaceutical products and pharmaceutical preparations 56,103 58,173 10.0 74.7
Manufacture of rubber and plastics products 4,258 4,249 0.7 52.2
Manufacture of other non-metallic mineral products 948 666 0.1 28.1
Manufacture of basic metals 22,461 24,754 4.3 90.8
Manufacture of fabricated metal products, except machinery and equipment 4,584 5,007 0.9 61.8
Manufacture of computer, electronic and optical products 1,448 1,658 0.3 63.5
Manufacture of electrical equipment 1,906 2,912 0.5 66.0
Manufacture of machinery and equipment not elsewhere classified 4,437 5,706 1.0 54.4
Manufacture of motor vehicles, trailers and semi-trailers 8,308 9,899 1.7 41.6
Manufacture of other transport equipment 731 1,199 0.2 86.3
Manufacture of furniture 104 120 - 32.0
Repair, maintenance and installation of machinery and equipment 36 38 - 52.4
Other manufacturing 41,352 53,935 9.3 64.6
D. Electricity, gas, steam and air conditioning supply 2,145 2,155 0.4 40.9
E. Water supply; sewerage, waste management and remediation activities 88 83 - 24.6
F. Construction 4,647 6,071 1.0 15.7
G. Services 1,86,853 2,27,676 39.2 46.2
Wholesale and retail trade 36,501 56,257 9.7 77.2
Transportation and storage 18,729 27,163 4.7 42.8
Accommodation and Food service activities 263 404 0.1 14.7
Telecommunications, computer programming, consultancy, computing infrastructure, and other information service activities 71,545 84,652 14.6 36.5
Financial and insurance activities 17,202 4,551 0.8 17.7
Real estate activities 85 90 - 25.4
Other service activities 42,529 54,558 9.4 56.6
Total 5,07,509 5,81,250 100.0 41.0
*Of the 10,898 overseas subsidiary companies, 3,707 reported imports.

1 The previous data release in the series, covering 2024-25 census round, was published on October 29, 2025, on the RBI website.

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