Defence & Aerospace sectors receive FDI worth Rs 4,191 crore

New Delhi, Mar 8: The Ministry of Defence on Monday said that the Defence and Aerospace sectors have received a foreign direct investment ( FDI ) worth Rs. 4191 crores till January this year.

 

This comes after a statement was made by Minister of State for Defence, Shripad Naik in a written reply in the Rajya Sabha. He said, the government has taken several steps to boost the indigenous manufacturing of defence items. He informed that out of 304 contracts, 190 contracts have been signed with Indian vendors for capital procurement of defence equipments for armed forces in the past five years.

 

Replying to another query, Naik informed that investments of more than Rs. 1,000 crores  have been attracted by the Uttar Pradesh Defence Industrial Corridor and Rs 2072 crores by Tamil Nadu Defence Industrial Corridor.

 

Further, he added that around eight thousand defence items have been uploaded on SRIJAN portal for indigenization. This portal is a one stop online portal that provides access to the vendors to take up items for indigenization.