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FDI worth US $1.31 million received in defence sector since 2012

WADI SHADIYAH, JORDAN- MAY 18: Officials arrive by a Boeing V-22 Osprey to watch a joint military exercise by Jordan and 18 other nations including the U.S during the final counter attack in the 5th annual Eager Lion May 18, 2015 in the southeast desert of Wadi Shadiyah, Jordan. In the final exercise, two U.S. B-52 Stratofortress aircraft flew a 35-hour mission from the U.S. to Jordan directly and back. Also used in the exercises were Jordanian F-16 fighting falcons, high-mobility artillery rocket system (HIMARS), four  Royal Jordanian air force AH-1 Cobras helicopters, three U.S. AH-64 Apaches helicopters, tanks, anti-tank guided missiles and heavy machine guns. (Photo by Jordan Pix/ Getty Images)
WADI SHADIYAH, JORDAN- MAY 18: Officials arrive by a Boeing V-22 Osprey to watch a joint military exercise by Jordan and 18 other nations including the U.S during the final counter attack in the 5th annual Eager Lion May 18, 2015 in the southeast desert of Wadi Shadiyah, Jordan. In the final exercise, two U.S. B-52 Stratofortress aircraft flew a 35-hour mission from the U.S. to Jordan directly and back. Also used in the exercises were Jordanian F-16 fighting falcons, high-mobility artillery rocket system (HIMARS), four Royal Jordanian air force AH-1 Cobras helicopters, three U.S. AH-64 Apaches helicopters, tanks, anti-tank guided missiles and heavy machine guns. (Photo by Jordan Pix/ Getty Images)

Friday, 24 July, New Delhi: Centre today said foreign direct investment amounting to US $1.31 million has been received in the defence sector in last three years and current year.

In a written reply to Lok Sabha, Minister of State for Defence Rao Inderjit Singh said that since the opening up of FDI in defence sector, 34 proposals involving foreign investment have been approved so far.

He also said that a total 287 industrial licenses have been issued till date in defence sector.

“Since June 2014, 70 industrial licenses have been issued in the defence sector. Some of the proposals for which licenses have been issued were pending since 2009 as necessary formalities or processes were not complete,” he said.

In another reply, he said FDI amounting to US $5.02 million has been received in the defence industry sector so far.

PTI