India reports record $94.53B FDI in FY26; ONDC orders cross 470 crore
Commerce Minister Piyush Goyal said India received $94.53 billion in FDI in FY2025-26, while the Open Network for Digital Commerce logged more than 470 crore orders. He also cited ₹2.40 lakh crore in realised PLI investment.
What happened
Government of India · India recorded $94.53 billion in FDI in FY2025-26, Piyush Goyal said. PLI schemes delivered ₹2.40 lakh crore of investment and ONDC logged
Key facts
- $94.53 billion FDI inflow in FY2025-26
- $843 billion cumulative FDI inflows from FY2014-15 to FY2025-26
- ₹2.40 lakh crore actual PLI investment
- ₹23.8 lakh crore PLI production/sales
- ₹15.2 lakh crore PLI exports
- Over 14.6 lakh direct and indirect jobs
- Over 470 crore orders placed through ONDC
Why this matters
India’s policy momentum and ONDC scale make partnerships or acquisitions in network-enabled commerce, merchant technology, logistics and local manufacturing increasingly strategic.
What to watch
- ONDC publication of GMV, active buyers, repeat rates, cancellations, order value and incentive-adjusted unit economics.
- New foreign-investment announcements in retail technology, warehousing, quick commerce, logistics and consumer manufacturing.
- Policy changes affecting marketplace rules, FDI in multi-brand retail, data governance, digital public infrastructure or e-commerce consumer protection.
- Merchant adoption in Tier 2 and Tier 3 cities and evidence that ONDC demand expands beyond low-ticket mobility and food-delivery transactions.
- Expansion of interoperable logistics, payments, credit and grievance-resolution standards across ONDC participants.
- Expand ONDC integration selectively, prioritizing categories with standardized catalogs, high repeat frequency and manageable returns.
- Build a channel-neutral inventory view across stores, marketplaces, direct commerce and ONDC to avoid stock-outs and duplicate fulfillment costs.
- Evaluate partnerships with ONDC buyer apps, seller-network participants and interoperable logistics providers rather than relying on a single marketplace route.
- Use rising manufacturing and FDI momentum to diversify sourcing toward India-based suppliers and PLI-supported categories.
- Track unit economics by channel, including customer acquisition cost, cancellation rate, delivery SLA, return rate and contribution margin after incentives.