The Indian government has pointed to a growth in foreign direct investment (FDI) in the defence and aerospace sector.
Indian Minister of State for Defence Shripad Naik said in parliament on 5 February that foreign companies had invested INR18.34 billion (USD257.5 million) in the country’s defence and aerospace sector since 2014.
No investment details were provided by the minister, but he said the FDI data was supplied by 79 companies in the country’s defence and aerospace sector. However, the FDI statistics provided by Naik are at odds with other related government figures.
According to the government’s Department for Promotion of Industry and Internal Trade, FDI in the defence sector between 2001 (when FDI was first permitted) and September 2019 was just INR519.3 million.
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