Gross FDI Hits $95Bn: CEA Refutes Surjit Bhalla’s Claims Of Indian Economic Structural Weakness

In an explosive interview with India Today TV’s Marya Shakil, Chief Economic Adviser V. Anantha Nageswaran strongly hit back at economist Surjit Bhalla’s claims of an Indian "FDI collapse." Dismantling the criticism with hard data, Nageswaran revealed that India's gross FDI reached an all-time high of $95 billion in FY26, shattering assumptions of a structural breakdown. He explained that the dip in net FDI is a global phenomenon driven by high US interest rates and Wall Street’s massive AI boom sucking capital out of emerging markets. While open to reviewing bilateral investment treaties, the CEA maintained India remains the world's fastest-growing large economy.