India’s foreign direct investment (FDI) scenario has witnessed a disquieting shift, with recent figures raising alarm about the nation’s ability to sustain its attractiveness to global investors. Net FDI inflows at $9.8 billion in FY24 were sharply below $28 billion in FY23. While it is true that global FDI flows have been on a downturn, with Unctad’s World Investment Report 2024 noting a drop from $1.62 trillion in 2021 to $1.33 trillion in 2023, India’s situation appears more dire.