FDI Worth USD 1.31 Million Received in Defence Sector Since 2012

Minister of State for Defence Rao Inderjit Singh also said that a total 287 industrial licenses have been issued till date in defence sector.

Published: 24th July 2015 06:21 PM  |   Last Updated: 24th July 2015 06:21 PM   |  A+A-

By PTI

NEW DELHI: Centre today said foreign direct investment amounting to USD 1.31 million has been received in the defence sector in last three years and current year.

In a written reply to Lok Sabha, Minister of State for Defence Rao Inderjit Singh said that since the opening up of FDI in defence sector, 34 proposals involving foreign investment have been approved so far.

He also said that a total 287 industrial licenses have been issued till date in defence sector. "Since June 2014, 70 industrial licenses have been issued in the defence sector. Some of the proposals for which licenses have been issued were pending since 2009 as necessary formalities or processes were not complete," he said.

In another reply, he said FDI amounting to USD 5.02 million has been received in the defence industry sector so far.

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