Anil Ambani lines up Rs 5,000 cr extra defence investment

By: | Published: July 17, 2015 12:06 AM

Reliance Group chairman Anil Ambani said on Thursday that an additional investment of Rs 5,000 crore will be made...

Reliance Group chairman Anil Ambani said on Thursday that an additional investment of Rs 5,000 crore will be made as part of his emphasis on ‘Make in India’ for military hardware.

Addressing a seminar organised by Indian Navy on indigenisation and innovation, in New Delhi, Ambani said his father’s vision was to meet the aspirations of generations with self reliance, adding the Make-in-India initiative is a major step towards that.

The Reliance Group chairman said the acquisition of the Pipavav Defence with assets worth more than Rs 10,000 crore was his company’s contribution towards self reliance.

“Pipavav has the largest dry dock in the country and the second largest in the world. With more than 30 lakh sq ft of covered area for fabrication and integration alone, this is perhaps the largest single location defence manufacturing facility in India,” he said.

“We will invest an additional Rs 5,000 crore over the next few years as part of our commitment towards indigenisation efforts,” he said.

He said that the Pipavav facility will be made capable to deliver “all requirements of the Indian Navy from frigates to aircraft carriers to submarines”.

Sources say Russia has chosen Pipavav as a partner to build three updated versions of Talwar-class frigates, likely to be the biggest-ever warship-building project for private sector in India.

He said since the sole consumer for domestic defence hardware was the government, specific measures towards ease of doing business will encourage industry participation. Accordingly, he suggested an advisory committee with chief executives from public and private sectors to meet regularly to “align and converge the understanding and aspirations of all stakeholders”.

He underscored the need for a larger public-private partnership in the defence sector and called for pooling of resources so that India becomes self-reliant and is able to cut dependence on imported goods.

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