Adani to enter defence manufacturing sector

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Gautam Adani promoted group has incorporated Adani Defence Systems and Technologies Ltd and applied for industrial license to manufacture helicopters.

India is the world’s largest defence importer with an annual defence budget of $ 40 billion, 60 per cent of which is spent on capital expenditure on purchase of equipment. Under the `Make in India` initiative, 46 licenses to produce items including light armoured vehicles, artillery weapon systems, UAVs and underwater systems have been issued  in order to boost private sectorINVESTMENT in defence.

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As the Chief Minister of Gujrat, Modi had encouraged defence equipment manufacture in special economic zones. Presently, the Prime Minister is stressing on domestic manufacture of defence equipment to equip the country for the future.

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