India’s Fast-Track Route for Low-Risk Foreign Investors Logs 164 Registrations in Just Over 100 Days

India’s new fast-track registration route for low-risk foreign investors has attracted 164 sign-ups in just over 100 days, with sovereign wealth funds, pension funds and large global asset managers among the early users. 

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The Single Window Automatic and Generalised Access for Trusted Foreign Investors, or SWAGAT-FI, framework came into effect on June 1, 2026. It was introduced to simplify entry and compliance requirements for a select group of foreign portfolio investors considered lower risk. 

The eligible pool includes sovereign wealth funds, pension funds, insurance companies and regulated public retail funds. 

Together, these categories account for around 70% of total foreign investment in India. 

One of the biggest changes under the framework is the registration period. 

Investors using the route can now remain registered for 10 years, compared with the earlier three-year renewal cycle applicable to FPIs. The longer window cuts down on repeat paperwork and compliance requirements for large long-term investors. 

Data from the National Securities Depository shows that the early registrations include structures linked to BlackRock, Vanguard, State Street and Franklin Templeton. 

Korea Investment Corporation, South Korea’s sovereign investment pool, as well as Malaysian pension funds and other government-linked investors, have also used the route. 

The registration numbers do not show how much money these investors have actually brought into India. 

Since the framework became operational, however, foreign investors added a net ₹702 billion, or about $7.34 billion, to Indian equities through the end of August. 

That trend reversed in September, with foreign investors pulling out ₹278.1 billion so far during the month. 

The new framework has been introduced against a softer backdrop for foreign ownership of Indian equities, which is currently at a 17-year low. The rupee has also been among the weaker-performing Asian currencies this year. 

Reuters also noted that a separate route designed for investors looking only at Indian government bonds has drawn interest from South Korea’s state-run pension fund. Allianz Europe B.V. has also registered under that route. 

For now, the 164 registrations show early take-up of the SWAGAT-FI framework among large global investors, though the data does not yet reveal how much capital has entered India specifically through the new fast-track channel.