IN PARLIAMENT: No plans for defence agreement with #Israel says MoD; admits FDI in Defence remains in shambles


PRESS INFORMATION BUREAU (DEFENCE WING)

GOVERNMENT OF INDIA

*********

FOREIGN INVESTMENT IN DEFENCE SECTOR

New Delhi: Phalguna 19, 1936

Tuesday, 10 March 2015

FDI proposals received from Foreign Investment Promotion Board (FIPB) after August 2014 are as under:

S. NO. NAME OF THE INDIAN COMPANY NAME OF THE JV COMPANY PROPOSED FOREIGN INVESTMENT AMOUNT INVOLVED
1. M/s. Hats Off Helicopters Training (P) Ltd. Dated 21.8.2014 M/s. CAE Inc., Canada Post Facto Approval for the issue of 5,84,205 equity shares of Rs.10/- each to CAE Inc., Canada Rs. 37.82 Crore
2. M/s. Ideaforge Technology (P) Ltd., dated 30.9.2014 NRI Investment 17.04%
3. M/s. Punj Lloyd Ltd. (PLL), dated 30.9.2014 FII & NRI Investment Foreign Shareholder  NRI IPO Allottees Repatriable Investment 22.79%+NRI

2.52%+FII

7.68%-Addition of activities

4. M/s. Quest Global Mfg. (P) Ltd., dated 27.10.2014 Aequs Mfg. Investment (P) Ltd., Mauritius FDI 49% from existing 17.29% Rs. 40 Crore
5. M/s Fokker Elmo Sasmos Interconnection Systems Ltd., dated 10.12.2014 Fokker Elmo BV Netherlands FDI 49% Rs. 6 Crore
6. M/s Star Wire (I) Ltd., dated 13.1.2015 M/s Aubert & Duval France FDI 5% Rs. 12.28 Crore
TOTAL:   Rs. 96.1 Crore

Ministry of Defence has neither entered into nor is there any proposal at present to enter into any framework agreement with Israel for supply of arms, military equipment and / or technology transfers in the defence sector.

This information was given by Minister of State for Defence Rao Inderjit Singh in a written reply to Shri MD Nadimul Haque in Rajya Sabha today.

DM/NAMPI/HH/RAJ

 

Advertisements

So, what do you think about it?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s