Despite a marginal 6 per cent rise in defence allocation for FY21, domestic companies — Jindal Defence and L&T Defence — are actively looking at participating in the defence growth story, currently dominated by imports.
Recently, Larsen & Toubro (L&T) and Europe-based MBDA, a world leader in missile systems, formed a joint venture (JV) to set up a missile integration facility in Tamil Nadu. Delhi-based Jindal Defence, part of O P Jindal Group, also announced its foray into small arms manufacturing in India via a JV with Taurus Armas S A, of Brazil. “At present, ...
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First Published: Tue, February 11 2020. 21:35 IST
