Over Rs 24 cr FDI received in defence sector: Minister

Article Posted on : - Dec 17, 2014

NEW DELHI (PTI): Foreign Direct Investment (FDI) worth Rs 24.36 crore has been received in the defence sector till September this year, the Government has said 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 on Tuesday.

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.

Other Related News

India, Australia firm up air-to-air refuelling arrangement for military aircraft

President Paudel confers Honorary Rank of General of Nepal Army to Indian Army chief

PM Modi meets top Caribbean leaders, discusses bilateral ties, partnerships for stronger Global South

India, China defence ministers hold 'productive' talks in Laos; agree to work towards rebuilding mutual trust

India and China on Wednesday agreed to work towards a "roadmap" for rebuilding mutual trust with Defence Minister Rajnath Singh calling for drawing lessons from the "unfortunate border clashes" of 2020 during talks with his Chinese counterpart Dong Jun.