No FDI in defence, ports, coal in Apr-Dec period: Govt

As many as five sectors including defence, ports and coal have failed to attract any foreign direct investments during the April-December period of the current financial year, Parliament was informed on Monday.

The other two segments which were not able to attract the foreign inflows are photographic raw film & paper and coir, according to the data shared by Commerce and Industry Minister Nirmala Sitharaman in a written reply to the Lok Sabha.

Barring defence industries, the other four sectors had not received any FDI in 2015-16 either.

In 2016, the government relaxed FDI norms in several sectors including defence. India imports 70 per cent of its military hardware from different countries. Read More…

 

Credit By : Business-standard.com

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