India receives USD 3.21 mn FDI for defence sector during Apr-Sep FY23

New Delhi: India received foreign direct investment (FDI) worth USD 3.21 million for defence sector during April-September period this fiscal year, Parliament was informed on Friday. The minister also said that total FDI inflow of USD 62.38 billion has been reported in the country during 2022 up to the month of September.

To promote FDI, the government has put in place an investor-friendly policy: Prakash

"To promote FDI, the government has put in place an investor-friendly policy, wherein most sectors, except certain strategically important ones, are open for 100 percent FDI under the automatic route," said Prakash.

India is on track to attract USD 100 bn FDI this fiscal: Govt

"Further, the policy on FDI is reviewed on an ongoing basis, to ensure that India remains an attractive and investor-friendly destination and this has resulted in the increasing trend of FDI inflows into the country since the last eight years," he added.

'Defence sector attracted USD 2.36 million foreign investment in 2021-22'

The defence sector had attracted USD 2.36 million foreign investment in 2021-22, USD 0.63 million in 2020-21, USD 2.20 million in 2019-20, USD 2.18 million in 2018-19 and USD 0.01 million in 2017-18, according to data provided by Minister of State for Commerce and Industry Som Parkash in a written reply to the Rajya Sabha.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)