Net FDI Drops to $1.4 Billion, Down from $19 Billion in UPA Era, Says Jairam Ramesh
New Delhi, April 11 — The Congress party has sharply criticized the Modi government, accusing it of decimating both domestic and foreign investments through a climate of "Fear, Deceit, and Intimidation" — a phrase it dubbed as the new FDI.
AICC General Secretary (Communications) Jairam Ramesh, in a post on social media platform X, alleged that India’s net Foreign Direct Investment (FDI) had plummeted to just USD 1.4 billion during April–January 2024-25, a dramatic decline from the USD 19 billion recorded during the same period in 2012-13, when the Congress-led UPA was in power.
“The Modi Government’s destruction of Domestic Investment (DI) has been accompanied by a near annihilation of FDI (Foreign Domestic Investment) through its practice of another type of FDI — Fear, Deceit, and Intimidation,” Ramesh wrote.
Congress Blames Policy Climate for Investor Exodus
Ramesh also took a swipe at the Modi administration’s global investment climate, suggesting that the government’s actions have pushed India out of contention even as global investors looked to diversify away from China.
“During Biden’s Presidency, companies across the world were scrambling to invest in Asian countries excluding China. Vietnam, Indonesia, and Bangladesh got billions in investment while India languished,” he added.
He further remarked that this "achievement" came even before Donald Trump’s return to the U.S. presidency in January 2025, implying that the damage was done under the existing international conditions favorable to India.
The Congress party's comments come at a time when the government is under scrutiny over economic performance and investment inflows amid the global realignment of supply chains in Asia.
