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.

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