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44 companies given FDI approvals for joint production of defence items with foreign companies: Shripad Naik


A complete of 44 Indian corporations, together with public sector items, have gotten approvals associated to international direct funding (FDI) until now for joint manufacturing of defence items with international corporations, mentioned Minister of State for Defence Shripad Naik on Monday. “Thus far, FDI inflows of about Rs 4191 crore have been reported by the businesses working in defence and aerospace sector within the nation,” Naik mentioned 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 objects, he said.

These things embody fixed-wing aircrafts, aerospace and aero buildings parts, simulator, unmanned aerial techniques, optical items and optical devices, radar techniques, mortars and tactically protected autos, he added.

On September 17 final yr, the federal government had permitted FDI in defence manufacturing as much as 74 per cent beneath computerized route.

It had additionally permitted FDI in defence manufacturing above 74 per cent beneath computerized route whether it is “more likely to lead to entry to fashionable know-how”.

Earlier than September 17, 2020, FDI in defence manufacturing had been permitted as much as 49 per cent beneath computerized route.





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