FDI was supposed to be the dependable -kind of foreign money the kind that built factories, brought technology and stayed for the long haul. FPI was the flighty cousin, quick to exit when markets turned. But India's net FDI has now shrunk to a trickle as rising repatriation and disinvestment offset strong inflows. What changed. In the first nine months of fiscal year 2025-26, only $3 billion of net FDI came into the country. In 2024-25, that figure was $1 billion with $81 billion inflow and $80 billion outflow. The stock market boom after 2021 led to several foreign companies listing in Indian markets. After listing, a big chunk of money raised was transferred to the home country as repatriation and disinvestment. Similar outflows happen when Indian companies invest abroad. At the same time, gross FDI inflows have not fallen and have actually risen after 2023-24.The biggest outflow is not Indian firms investing abroad, but repatriation and disinvestment - money foreign investors take back after profits, exits or stake sales. That alone stood at $44.6 billion between April and December 2025.