FDI inflow of Rs. 2883 crore reported in Defence and Aerospace sector
NEW DELHI [Maha Media]: FDI inflows of two thousand 883 crore rupees have been reported in Defence and Aerospace sector through automatic route till June this year. This was stated by the Minister of State for Defence Shripad Naik in a written reply in the Rajya Sabha today.
He said, FDI inflows of 1849 crore rupees have been reported in Defence and Aerospace sectors after 2014 through automatic route. Replying to another question, Mr. Naik informed that the Defence Ministry has signed a contract for modernization of AirField infrastructure phase-II on 8th May this year.
He said, modernization of airfield infrastructure has enhanced the facilitating operation in poor weather conditions apart from handling capabilities and has benefitted both military and civil operations. He said, this will boost employment in the field of communications, avionics, information technology and construction sector.