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May 27, 2018, 11:20 pm IST
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Reliance to make ammunition for armed forces

Reliance to make ammunition for armed forces

 Jun 21, 2017

 

 

 

A strategic partnership between the Reliance Defene Amunition and Yugo import, a Serbian state owned corporation,  would produce ammunition for Indian defence forces.  The company envisages production to touch Rs.20000 crore worth of ammunition in the next ten years.

Recently the centre has issued a request for defence production proposals from interested companies.India currently imports Rs 10000 crore worth ammunition. The plan is to make fifty per cent of the production indigenously.

The Reliance Defence Ammunition made this announcement after Anil Ambani, chairman of Ambani group met Alexander Vucic, the president of Serbia , in Belgrade on Tuesday. “The two companies would work together in the field of ammunition amongst others, with projected minimum requirement of Rs 20000 crore over next 10 years from the armed forces”, Reliance Defence Limited said in a statement.

The deal envisages export of ammunition and transfer of technology and would meet the future requirements of Indian armed forces”, the company said in a statement.  Yugo import, a market leader in the production of ammunition, would give necessary technical solution to cater to the Make in India requirement of the government. Reliance defence limited would undertake the joint development of next generation of ammunition.



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