Defence Gets Mere Rs 36 Cr FDI In 18 Yrs


In what reflects a ‘lack of interest’ by foreign companies in the Indian defence manufacturing sector, there has been a mere $5.13 million (Rs 36 crore) foreign direct investment (FDI) in the past 18 years.

As per the Ministry of Defence (MoD) figures submitted in Parliament on Wednesday, so far 41 FDI proposals or joint ventures have been approved to manufacture various defence equipment, both in public and private sectors.

FDI amounting to $5.13 million has been received in the defence industry sector from April 2000 to March 2018. These figures are a mere shadow of the overall FDI inflow into the country, which was $61.96 billion (Rs 4.24 lakh crore) in 2017-18 alone.

In March this year, Parliament was informed that only Rs 1.17 crore FDI was received between April 2014 and December 2017.Touting FDI in defence as a major shift in policy, the (MoD) in 2016 had okayed up to 49 per cent stake for foreign companies partnering Indian companies. Read More

You may also read!

Surfing internet in plane soon possible, but voice call has to wait

Your wait to use mobile phones on airplanes may soon be over, but you may only get to surf

Read More...

Future of ties will depend on Pakistan acting on terror: US official

The United States has still not seen decisive action by Pakistan against terrorists operating from its soil a year

Read More...

Separatist shutdown affects life in Kashmir Valley

A shutdown called by separatists affected life across the Kashmir Valley on Thursday with heavy security deployed here and

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu