Modi government's policies crippled domestic investment, nearly wiped out FDI: Congress

NEW DELHI: The Congress on Friday accused the Modi government of destroying domestic investment and also causing a "near annihilation" of Foreign Domestic Investment through its practice of "another type of FDI -- Fear, Deceit, and Intimidation".

In a post on X, AICC General Secretary (Communications) Jairam Ramesh said the net FDI in India during April to January 2024-25 was only USD 1.4 billion, against USD 19 billion from April-January 2012-13, when the Congress-led UPA was in power.

"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 said in his post.

He claimed 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," the Congress leader said.