Inflows by foreign portfolio investors (FPIs) into the Indian debt market have amounted to only Rs 69,073 crore ($7.8 billion) so far this calendar year, despite easier investment norms under the Fully Accessible Route (FAR).

While foreign players had invested Rs 1,52,775 crore ($17.26 billion) in debt instruments in 2024, expectations were that $20–25 billion would flow into the market through FAR alone in 2025.

Of the total debt investment, Rs 66,528 crore ($7.5 billion) flowed in through the FAR, while just Rs 12,083 crore was invested in the debt general category so far in 2025, according to NSDL data. There was an outflow of Rs 9,538 crore from debt-VRR. This marks a reversal from 2024, when Rs 1,10,813 crore came via the debt general category and only Rs 28,962 crore came through F

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