Brahmand NewsPrevious Article
Brahmand NewsNext Article
  • Pak successfully test-fires ballistic missile Shaheen-II:-Pakistan has successfully test-fired surface-to-surface ballistic missile Shaheen-II, capable of hitting targets as far as 1,500 kilometers away, bringing major Indian cities under its range. ...
  • AN-32 fleet of IAF allowed to use bio-jet fuel:-In a significant move, the fleet of AN-32 transport aircraft of the Indian Air Force was on Friday certified to fly on blended aviation fuel containing up to 10 per cent bio-jet fuel....
  • BRAHMOS missile successfully test-fired from Car Nicobar island:-A BRAHMOS supersonic cruise missile was successfully test-fired by a unit of Eastern Command of the Indian Army from Car Nicobar Islands, the Army said. The exercise, conducted on May 22, was part of joint training by the Army, Navy and the Air Force....
  • DRDO test fires guided bomb from Sukhoi combat jet:-The Defence Research and Development Organisation (DRDO)has successfully test fired an indigenously-developed 500 kg class guided bomb from a Sukhoi combat jet at Pokhran in Rajasthan. The defence ministry said the guided bomb achieved the desired range and hit the target with high precision. ...

Defence sector receives USD 1 mn of FDI in 3 years

Line Spacing+- AFont Size+- Print This Article

NEW DELHI (PTI): The defence sector received only US$ 1 million in terms FDI equity inflow in the last three years, the Lok Sabha has been informed.

In a written response to a question, Subhash Bhamre, Minister of State in the Defence Ministry, said that during the last three years and the current financial year, 34 FDI proposals were received for consideration of Foreign Investment Promotion Board (FIPB).

"Out of 34, 17 have been approved. The FDI equity inflow for April 2013-December 2016 in defence sector is US$ 1 million," Bhamre said.

The Minister said, 76 contracts involving Rs 1,30,664 crores have been signed with foreign vendors for capital procurement of various defence equipment including aircraft, rockets, tanks, helicopters, howitzers, missiles, simulators and ammunition.

The USA tops the list with 18 contracts, followed by 13 each by Russia and Israel, and seven by France.

Responding to another question, Bhamre said, the expenditure on purchase of defence equipment through imports for three services have been 34.30 per cent in 2015-16 and 41.60 per cent until December 2016.

He said, the share of domestic-public sector production to the total annual purchase during the said years is approximately 61.1 per cent.

The Minister added, the Defence Acquisition Council (DAC) accorded approval of 136 capital procurement cases estimated at Rs 4,00,714 crore during the last two financial years (2014-15 and 2015-16) and current year 2016-17 (up to January 2017), out of which 96 cases involving Rs 2,46,417 crore are under the Make in India category.


Defence  FDI  India  Investment  
Line Spacing+- AFont Size+- Print Article

Other Related News

Indian Navy Chief on farewell visit to Eastern Naval Command

Chief of Naval Staff, Admiral Sunil Lanba is camping in Visakhapatnam for three days in what the Navy said is a farewell visit as he is set to retire from service on May 31.

Upcoming Defence Exhibitions

BRAHMOS Missile Systems


Brahmand World Defence Update 2019

Image Gallery