Over Rs 24 crore FDI received in defence sector

Source: Economic Times

Foreign Direct Investment (FDI) worth Rs 24.36 crore has been received in the defence sector till September this year, government said today in the Rajya Sabha.

“After opening up of the defence industry sector for FDI in 2001, 33 FDI proposals/joint ventures have been approved in the defence sector for manufacturing of various defence equipment, both in public and private sectors.

“FDI amounting to Rs 24.36 crore has been received up to September 2014,” Minister of State for Defence Rao Inderjit Singh said in a written reply in the House.

To another question, he said ‘Make in India’ policy also covers manufacturing in defence sector and the initiative covers manufacturing of all kinds of defence equipment.

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