Defence and Aerospace sectors obtained FDI value Rs 4191 crore until January | India Information
New Delhi: A complete of 44 Indian firms, together with public sector items, have gotten approvals associated to overseas direct funding (FDI) until now for joint manufacturing of defence objects with overseas firms, stated Minister of State for Defence Shripad Naik on Monday.
“Up to now, FDI inflows of about Rs 4191 crore have been reported by the businesses working in defence and aerospace sector within the nation,” Naik stated in a written reply to a query in Rajya Sabha.
As on date, FDI approvals have been given to 44 firms – together with DPSUs – for joint ventures or co-production of varied defence objects, he acknowledged.
These things embrace fixed-wing aircrafts, aerospace and aero-structures elements, simulator, unmanned aerial techniques, optical items and optical devices, radar techniques, mortars and tactically protected autos, he added.
On September 17 final 12 months, the federal government had permitted FDI in defence manufacturing as much as 74 per cent underneath the automated route.
It had additionally permitted FDI in defence manufacturing above 74 per cent underneath automated route whether it is “prone to end in entry to trendy expertise”.
Earlier than September 17, 2020, FDI in defence manufacturing had been permitted as much as 49 per cent underneath the automated route.