There's nothing to gain from avoiding the numbers. FPIs have withdrawn more than ₹3 lakh cr from Indian equities in the first 9 mths of 2026, already the largest annual exodus of foreign portfolio capital since records began. It's a figure that has caused concern among international institutional and retail investors alike, and understandably, closer to home, in the corridors of power in Delhi.
'There are some concerns. Foreign capital has not been very forthcoming of late,' acknowledged Alok Tiwari, joint secretary in finance ministry's Department of Economic Affairs, in late August. For a country now increasingly viewed as one of the world's great economic powers by East and West alike, there is rightfully cause for unease. Record outflows should prompt introspection after years of seemingly uninterrupted macroeconomic tailwinds around the India Story.
