India's Private Investment Surge Debunks Congress Narrative

In a detailed rebuttal, Amit Malviya of the BJP has challenged Congress MP Jairam Ramesh's assertion that private investment is falling in India. Malviya pointed out that real private capital expenditure has grown sharply, backed by data from nearly 1,200 companies. Manufacturing accounts for nearly half of this capex surge, with services also performing strongly. He noted that capacity utilization has improved, new orders are rising, and bank lending to retail, agriculture, and MSMEs is expanding rapidly. Malviya dismissed concerns over net FDI, explaining that gross inflows have hit $94.5 billion and net FDI has grown sixfold. He argued that the pre-2014 investment peak was built on excessive leverage that eventually triggered the NPA crisis. Today's banking sector, with gross NPAs at historic lows, is far more stable. Malviya concluded that India's domestic investment cycle is supported by strong fundamentals and should not be judged by selective or outdated comparisons.