The Crossbill News Desk
The Congress on Friday (April 11) launched a scathing attack on the Narendra Modi-led government, accusing it of wrecking domestic investment and nearly wiping out foreign direct investment (FDI) through what it called an alternative version of FDI — “Fear, Deceit, and Intimidation.”
In a post on X, Congress General Secretary (Communications) Jairam Ramesh highlighted a steep drop in net FDI inflows, comparing the current figures under the BJP government to those during the United Progressive Alliance (UPA) era.
Citing official data, Ramesh pointed out that net FDI in India during April to January of the current fiscal year (2024-25) stood at just USD 1.4 billion — a dramatic decline from USD 19 billion during the same period in 2012-13 when the Congress-led UPA was in power.
"In Apr-Jan 2012-13, net FDI in India was $19 billion. In Apr-Jan 2024-25, net FDI in India was under $1.4 billion. 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 posted.
He further remarked that this drastic downturn in FDI was achieved even before the swearing-in of Donald Trump as U.S. President in January 2025. He also took a swipe at the Modi government's missed economic opportunities during the tenure of President Joe Biden.
"The Modi Government achieved this distinction even before President Trump took over in January 2025. 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," Ramesh said.
The Congress leader’s comments come amid growing scrutiny of India’s investment climate and its ability to attract and retain foreign capital in a competitive regional landscape.
In a post on X, Congress General Secretary (Communications) Jairam Ramesh highlighted a steep drop in net FDI inflows, comparing the current figures under the BJP government to those during the United Progressive Alliance (UPA) era.
Citing official data, Ramesh pointed out that net FDI in India during April to January of the current fiscal year (2024-25) stood at just USD 1.4 billion — a dramatic decline from USD 19 billion during the same period in 2012-13 when the Congress-led UPA was in power.
"In Apr-Jan 2012-13, net FDI in India was $19 billion. In Apr-Jan 2024-25, net FDI in India was under $1.4 billion. 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 posted.
He further remarked that this drastic downturn in FDI was achieved even before the swearing-in of Donald Trump as U.S. President in January 2025. He also took a swipe at the Modi government's missed economic opportunities during the tenure of President Joe Biden.
In Apr-Jan 2012-13, net FDI in India was $19 billion.
— Jairam Ramesh (@Jairam_Ramesh) April 11, 2025
In Apr-Jan 2024-25, net FDI in India was under $1.4 billion.
The Modi Government’s destruction of Domestic Investment (DI) has been accompanied by a near annihilation of FDI (Foreign Domestic Investment) through its…
"The Modi Government achieved this distinction even before President Trump took over in January 2025. 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," Ramesh said.
The Congress leader’s comments come amid growing scrutiny of India’s investment climate and its ability to attract and retain foreign capital in a competitive regional landscape.
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