Anil Ambani
Anil Ambani's company Reliance Defense Limited has partnered with US Defense Contractor Coastal Mechanics Inc. The focus of both companies is on the MRO market of India's Rs 20 thousand crore defense. For this, the company has made such a big deal.
Reliance Defense will form a joint venture in Maharashtra in collaboration with the American contractor, providing the country's major defense products to provide maintenance, repair and overhaul service. The partnership aims to modernize more than 100 Jaguar, 100 MiG-29 fighter jets, 20 Apache attack helicopters and L-70 air defense mines.
Reliance Defense aims to include India's top three defense exporters. The company says the segment provides high value and long-term opportunities due to the strategy of the Indian Army's asset replacement to life cycle and performance-based logistics. According to market analyst Ajay Baga, defense spending is increasing globally due to increasing geopolitical risks, increasing export opportunities to India's defense manufacturers and service providers.
Indian market
Vineet Bolinjkar, head of Equity Research of Ventura Securities, described this JV as a positive step. He said that India is a cost-skilled market, which is attractive to MRO. Partnership with Coastal Mechanics will help Reliance Defense to gain business from the US Department of Defense, which is the world's largest defense department.
Country defense sector
Major General KK Sinha, the veteran and defense expert of the Kargil war, expressed confidence in India's defense manufacturing capabilities. He said that along with self-sufficiency, it is also necessary to have modern equipment. India is ready to emerge in the global defense manufacturing industry and is capable of meeting the needs of NATO countries. In FY 2025, India's defense production rose 15% to an all -time high of Rs 1.46 lakh crore. The country's defense exports also reached a record of Rs 24,000 crore. This partnership will help Reliance Defense to make a strong position in India's defense sector.
Source: www.tv9hindi.com
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