Latest Details of FDI in India’s Defence Sector (Upto May 2016)

Four proposals for Rs 7500 crore have been received by the government in the defence sector upto May 2016.

Details of these proposals are:

Year 2016: 04 proposals:

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The total Foreign Direct Investment (FDI) made in the country during each of the last three years and the current year are as under:-

(In US$ million)

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List of FDI proposals received in Foreign Investment Promotion Board (FIPB) under defence sector during the last three years and the current year are as under:-

Year 2013: 08 proposals:

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Year 2014:  10 proposals:

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Year 2015:  10 proposals:

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Year 2016:  04 proposals:

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It may be noted that the Government has on June 24, 2016 reviewed the FDI Policy in Defence Sector. Foreign Investment up to 49% is allowed through automatic route and above 49% under Government route wherever it is likely to result in access to modern technology or for other reasons to be recorded. The foreign investment in defence sector is further subject to industrial license under the Industries (Development & Regulation) Act, 1951.

The amendments made in the policy could be the most trusted route to technology transfer which would help in increasing the defence production base and providing the much needed impetus to self-reliance and indigenization in defence sector.

Foreign investment above 49% is permitted in cases wherever the proposal is likely to result in access to modern technology or for other reasons to be recorded. Such proposals are considered by Foreign Investment Promotion Board (FIPB) based on the security clearance of Ministry of Home Affairs (MHA) and comments of Ministry of Defence. Foreign investment in Defence sector is subject to the grant of Industrial License under the Industries (Development and Regulation) Act 1951, by Licensing Committee, an inter-ministerial body, which among other things, also takes into account security clearance by Ministry of Home Affairs (MHA) and views of Ministry of Defence (MoD).

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