Thursday, April 22, 2021

Indian Defence Industry Suffers Due To Drastic Fall in Foreign Direct Investments

Indian Defence Industry received less Foreign Direct Investments (FDI) from April till September 2018. The FDI in India’s defence sector was recorded at 0.21 million dollars, the Minister informed the Parliament.

Delhi Eases Norms For Foreign Investors in Lucrative Indian Defence Sector

In 2014-15, 2015-16 and 2017-18, defence industries earned $0.08 million, $0.10 million and $0.01 million foreign inflows, respectively.

As per the data provided by Minister of State for Commerce and Industry C R Chaudhary in his written reply to the Lok Sabha said, “In 2016-17, the industries in the sector failed to attract FDI”. India imports 70% of its military hardware from various countries. In total, FDI in the country lowered 11% to $22.66 billion during April-September this fiscal.

The growth rate of foreign direct investment recorded a five-year low of 3% at $44.85 billion in 2017-18. The minister also stated that funds transmitted to Invest India have increased to Rs 33,19,42,631 in 2018-19 as against Rs 1,18,78,380 in 2013-14.

More News at EurAsian Times

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