New Delhi: A complete of 44 Indian corporations, together with public sector models, have gotten approvals associated to international direct funding (FDI) till now for joint manufacturing of defence gadgets with international corporations, stated Minister of State for Defence Shripad Naik on Monday.
“So far, FDI inflows of about Rs 4191 crore have been reported by the companies operating in defence and aerospace sector in the country,” Naik stated in a written reply to a query in Rajya Sabha.
As on date, FDI approvals have been given to 44 corporations – together with DPSUs – for joint ventures or co-production of assorted defence gadgets, he said.
These gadgets embrace fixed-wing aircrafts, aerospace and aero-structures elements, simulator, unmanned aerial programs, optical items and optical devices, radar programs, 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 beneath the automated route.
It had additionally permitted FDI in defence manufacturing above 74 per cent beneath computerized route whether it is “likely to result in access to modern technology”.
Before September 17, 2020, FDI in defence manufacturing had been permitted as much as 49 per cent beneath the automated route.
