Defence industries have attracted a meagre USD 0.21 million foreign direct investment (FDI) during April-September 2018, Parliament was informed Monday. In 2014-15, 2015-16 and 2017-18, defence industries received USD 0.08 million, USD 0.10 million and USD 0.01 million foreign inflows, respectively.
In 2016-17, the industries in the sector failed to attract FDI, according to the data provided by Minister of State for Commerce and Industry C R Chaudhary in his written reply to the Lok Sabha. India imports 70 per cent of its military hardware from various countries.
Overall, FDI in the country dipped 11 per cent to USD 22.66 billion during April-September this fiscal. Read more