We are making big investments in defence sector in next 10 years, says Adani Defence CEO
Adani Group is going to make big investments in the defence sector in the next 10 years in line with the government's push for achieving self-reliance in defence manufacturing, a top executive of the company said. Ashish Rajvanshi, the CEO of Adani Defence and Aerospace, said the company is complementing the government's efforts towards 'Make in India', noting that «everyone will have to work together» to realise the desired goal.
«We are going to make big investments in the defence sector in the next 10 years,» he said at NDTV's 'Defence Summit' on Thursday.
Rajvanshi, however, did not elaborate on the investments.
In a major move, the Adani Defence and Aerospace last month inaugurated two mega facilities to manufacture ammunition and missiles.
Spread over 500 acres, the facility in Kanpur is set to become one of the largest integrated ammunition manufacturing complexes, according to the company.
It will produce high-quality small, medium and large-calibre ammunition for the armed forces, paramilitary forces and police.
«India has been dependent on defence imports for a long time. Prime Minister Narendra Modi has emphasised on 'self-reliant India'. India is currently the fifth largest economy in the world. The situation has changed in the last five years,» he said.
Rajvanshi also referred to various reform measures initiated by the government in the last few years to boost domestic defence industries.
«In the last five years, the steps taken under the leadership of Defence Minister Rajnath Singh towards
