New Delhi: Indian company Jindal Defence, part of O P Jindal Group, today announced its advent into small arms manufacturing in India.
In a move aimed towards empowering indigenous manufacturing, Jindal Defence has signed a Joint Venture (JV) agreement with Taurus Armas S.A., of Brazil for manufacturing an array of small arms.
This JV agreement was signed at the first Brazil-India Defence Industry Dialogue of the India-Brazil Business Forum (IBBF), organized by the Ministry of External Affairs, Government of India in association with CII, ASSOCHAM, and FICCI.
This forum is part of a business exchange programme hosted in honour of Federative Republic of Brazil President Jair Bolsonaro‘s official visit to India. This move by Jindal Defence is expected to bolster Indo-Brazil cooperation in the strategic defence sector.
The agreement proposes setting up of a JV Company at Hisar (Haryana) with equity participation from both, Jindal Defence and Taurus Armas S.A, in the equity ratio of 51:49.
The JV company will manufacture small arms in India based on the Transfer of Technology from Taurus to achieve localisation of production in accordance with the Defence Procurement Procedure.
“To further strengthen the ‘Make in India‘ vision of India’s Prime Minister (Narendra Modi), our collaboration with Taurus Armas S.A. will support self-reliance in strategic small arms manufacturing,” Jindal Defence Promoter Abhyuday Jindal said.
“The JV company envisages creation of world-class infrastructure along with adoption of best manufacturing practices to achieve perfection in design and engineering, and achieve high quality standards, he said
“Moreover, with the technological expertise emerging with this JV, we aim to support the emerging demands of the Indian armed forces.”
This partnership aims to maximise existing domestic opportunities in the small arms manufacturing sector and provide significant support to the ongoing and future modernisation plans of the armed forces, particularly the Indian Army, the paramilitary, and state police forces.
Further, this move is in sync with the government’s vision of greater private sector participation in defence hardware manufacturing.
NOTE: Jindal Defence is engaged in the business of manufacturing products for defence and other strategic sectors. O P Jindal Group, a $25 billion global business conglomerate, has interests spanning the steel, mining, power, industrial gases, ports, and defence verticals. The Group is successfully operating in a wide spectrum of the manufacturing sector globally with exceptional capabilities in project management.
NOTE: Taurus Armas S.A, Brazil is one of the largest firearms manufacturers in the world, with a wide range of small arms in its portfolio. The company exports arms to over 100 countries and caters to the diversified requirement of military, law enforcement, and commercial markets. Taurus’ small arms are globally acknowledged for high reliability, accuracy, durability, safety, unique features and ease of use.
Categories: Press Release
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