In 2025, the outflow of investment from Kyrgyzstan to India was 15 times higher than the figure for the previous 23 years

In 2025, outflows of foreign direct investment from Kyrgyzstan reached $1.1 billion. Almost one in five dollars of this amount was linked to India, where outflows reached $213 million, according to data from the National Statistical Committee.

India’s share of total outflows stood at around 20 per cent. By contrast, in 2024, outflows of direct investment linked to Indian investors stood at $2.9 million. Thus, the figure increased more than 74-fold over the course of the year.

By way of comparison, in 2025, $36 million in direct investment flowed from India into Kyrgyzstan. This is 6.6 times more than in the previous year. However, the outflow proved to be almost six times higher than the inflow.

As a result, $177 million more Indian investment left Kyrgyzstan than entered it. Back in 2024, the situation was the reverse, with the country recording a net inflow of $2.6 million.

The scale of this is particularly striking when compared with previous years. For instance, from 2002 to 2024, the total outflow of direct investment to India amounted to $14.4 million. The figure for 2025 alone was almost 15 times higher than for the previous 23 years combined.

India became the main driver of growth in total outflows. Across all countries, the total increased from $774.3 million to $1.07 billion — a rise of $297.4 million. Over 70 per cent of this increase was attributable to India.

Despite such a large outflow, Kyrgyzstan’s overall investment balance remained positive. In 2025, the country received $1.31 billion in foreign direct investment. As a result, the net inflow (after deducting the outflow) amounted to $239 million — 6.4 per cent less than in 2024.

Excluding India, the net inflow of foreign direct investment would have reached approximately $416 million. Thus, transactions with India significantly worsened the country’s overall result.

It should be noted that outflows may include not only the sale of businesses or the repatriation of invested capital, but also dividends, loan repayments and other settlements between affiliated companies.