India received foreign direct investment (FDI) worth $3.21 million in the defense industry during the April-September period of the current fiscal, the Indian Parliament was informed today.
According to data provided by the Minister of State, the industry attracted US$2.36 million in foreign investment in 2021-22, US$0.63 million in 2020-21, US$2.2 million in 2019-20 and 218 million in 2018-19. million, attracting $10,000 in 2017-18. Commerce and Industry Som Parkash in written reply to Rajya Sabha.
To promote FDI, he said, the government has an investor-friendly policy where most industries are open to 100 percent FDI under the automatic route, except for certain strategically important industries.
“Furthermore, FDI policies are constantly being reviewed to ensure that India remains an attractive and investor-friendly destination, which has led to an increasing trend of FDI inflows into the country since the past eight years,” added Som Parkash Say.
In a separate reply, the minister said that in 2022 (as of September), the country’s FDI inflows totaled US$62.38 billion.
(Aside from the title, this story is unedited by NDTV staff and published via a syndicated feed.)
Featured Video of the Day
Domestic crude oil windfall tax cut by 65%