India attracted FDI worth $3.21 mn for defence sector in Apr-Sept period of FY23

Foreign investment of India's defence sector hit $3.21 million for April-September period in FY23. This was higher than $2.36 million foreign investment in FY22, according to information from Minister of State for Commerce and Industry Som Parkash. The government framed investor-friendly policy, to open up most sectors, except certain strategically important ones, 100 per cent FDI through an automatic route.
     
The government also reviewed the FDI policy on an ongoing basis, to make India an attractive destination for investors. This led to an increase in FDI inflows in the past eight years.
     
The minister also revealed that total FDI inflow of $62.38 billion was reported in India during 2022.