India News | We Are Making Big Investments in Defence Sector in Next 10 Years: Adani Defence CEO
Get latest articles and stories on India at LatestLY. The Adani Group is going to make big investments in the defence sector in the next 10 years in line with the government's push for achieving self-reliance in defence manufacturing, a top executive of the company said.
New Delhi, Mar 8 (PTI) The Adani Group is going to make big investments in the defence sector in the next 10 years in line with the government's push for achieving self-reliance in defence manufacturing, a top executive of the company said.
Ashish Rajvanshi, the CEO of Adani Defence and Aerospace, said the company is complementing the government's efforts towards 'Make in India', noting that "everyone will have to work together" to realise the desired goal.
"We are going to make big investments in the defence sector in the next 10 years," he said at NDTV's 'Defence Summit' on Thursday.
Rajvanshi, however, did not elaborate on the investments.
In a major move, the Adani Defence and Aerospace last month inaugurated two mega facilities to manufacture ammunition and missiles.
Spread over 500 acres, the facility in Kanpur is set to become one of the largest integrated ammunition manufacturing complexes, according to the company.
It will produce high-quality small, medium and large-calibre ammunition for the armed forces, paramilitary forces and police.
"India has been dependent on defence imports for a long time. Prime Minister Narendra Modi has emphasised on 'self-reliant India'. India is currently the fifth largest economy in the world. The situation has changed in the last five years," he said.
Rajvanshi also referred to various reform measures initiated by the government in the last few years to boost domestic defence industries.
"In the last five years, the steps taken under the leadership of Defence Minister Rajnath Singh towards making India self-reliant in the defence sector are yielding good results," Rajvanshi said.
He particularly cited policy initiatives to provide space to private defence industries as well as efforts to encourage startups, MSMEs.
"There has been a big change in the policies to promote indigenisation in the last three years -- how can we promote our industry -- now everyone is working in this direction," he said.
In his address, Rajvanshi also said that a road map will have to be made and work will have to be done accordingly, adding "this will get everyone's support."
"We have given modern drones to the Navy. It can be used in both civil and defence. Now we will also be able to export ammunition," he said.
In his remarks at the summit, DRDO chairman Samir V Kamat said his organisation does not differentiate between private and public sector.
"We give equal opportunity to everyone. Our technologies are for everyone. Till now we have done 1700 ToT (transfer of technology) with the private and public sector. Our patents are for both the sectors," he said.
"Today the private sector is playing an important role in the defence sector. We are now focusing on startups in this area. We are also working on promoting small companies," he said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)