No foreign direct investments in defence, ports, coal in April-December period, says government

New Delhi: As many as six sectors, including defence industries, ports and coal production, have failed to attract any foreign direct investments during the April-December period of the current fiscal, Parliament was informed on Monday.

The other three sectors, which were not able to attract foreign inflows are - photographic raw film & paper, dye-stuffs and coir, according to the data shared by Minister of State for Commerce and Industry C R Chaudhary in a written reply to the Lok Sabha.

No foreign direct investments in defence, ports, coal in Apr-Dec. Reuters image.

No foreign direct investments in defence, ports, coal in Apr-Dec. Reuters image.

Barring defence industries and dye-stuffs, the other four segments had not received any FDI in 2015-16 either.

The government has relaxed FDI norms in several sectors, including defence, single brand retail and civil aviation, to attract foreign direct investment in the country.

India imports 70 percent of its military hardware from different countries.

During April-December 2017-18, FDI into the country grew by a meagre 0.27 percent to $35.94 billion.


Updated Date: Mar 19, 2018 19:08 PM

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