<p class="title">India's defence industry received foreign direct investment (FDI) of a meagre USD 2.18 million during 2018-19, the Parliament was informed on Wednesday.</p>.<p class="bodytext">In 2014-15, 2015-16, and 2017-18, the sector attracted FDI worth USD 0.08 million, USD 0.10 million and USD 0.01 million, respectively, according to data given by Commerce and Industry Minister Piyush Goyal in a written reply in the Lok Sabha.</p>.<p class="bodytext">In 2016-17, the industry had failed to attract overseas investments.</p>.<p class="bodytext">The other sectors which received nil inflows during the last fiscal include photographic raw film and paper, and coir.</p>.<p class="bodytext">As per the current policy, foreign investment beyond 49 per cent is permitted through the approval route in the defence sector.</p>.<p class="bodytext">The FDI limit for the defence sector has also been made applicable to the manufacturing of small arms and ammunition covered under Arms Act, 1959.</p>.<p class="bodytext">Overall FDI inflows declined for the first time in the last six years in 2018-19, falling 1 per cent to USD 44.37 billion as foreign investments fell significantly in telecommunication and pharmaceutical sectors.</p>.<p class="bodytext">A strong inflow of foreign investments helps improve the country's balance of payments situation and strengthens the value of rupee against global currencies, especially the United States (US) dollar.</p>.<p class="bodytext">Replying to a separate question, the minister said that a representation/request regarding the establishment of an industrial park at Kolar Gold Fields has been received. </p>
<p class="title">India's defence industry received foreign direct investment (FDI) of a meagre USD 2.18 million during 2018-19, the Parliament was informed on Wednesday.</p>.<p class="bodytext">In 2014-15, 2015-16, and 2017-18, the sector attracted FDI worth USD 0.08 million, USD 0.10 million and USD 0.01 million, respectively, according to data given by Commerce and Industry Minister Piyush Goyal in a written reply in the Lok Sabha.</p>.<p class="bodytext">In 2016-17, the industry had failed to attract overseas investments.</p>.<p class="bodytext">The other sectors which received nil inflows during the last fiscal include photographic raw film and paper, and coir.</p>.<p class="bodytext">As per the current policy, foreign investment beyond 49 per cent is permitted through the approval route in the defence sector.</p>.<p class="bodytext">The FDI limit for the defence sector has also been made applicable to the manufacturing of small arms and ammunition covered under Arms Act, 1959.</p>.<p class="bodytext">Overall FDI inflows declined for the first time in the last six years in 2018-19, falling 1 per cent to USD 44.37 billion as foreign investments fell significantly in telecommunication and pharmaceutical sectors.</p>.<p class="bodytext">A strong inflow of foreign investments helps improve the country's balance of payments situation and strengthens the value of rupee against global currencies, especially the United States (US) dollar.</p>.<p class="bodytext">Replying to a separate question, the minister said that a representation/request regarding the establishment of an industrial park at Kolar Gold Fields has been received. </p>