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Latest Indian Defence News
Indian Firms Down Selected for Army's Communication System
India has down selected two domestic Defence firms, one of which will execute the Indian Army's Tactical Communication System project worth over $2 billion (Rs.10,000 crore). This path-breaking move by the Indian Defence Ministry comes as a boost to the private sector Defence companies, as a special purpose company floated by Larsen & Tubro, Tata Power SED and HCL Infosys Limited, all private sector major that have entered into the Defence business, is one of the down-selected firm.
Mahindra Establishes Two Defence Ventures with Us and Israeli Firms at Def-Expo 2012
At the recently concluded Def Expo India-2012, the 7th Land, Naval and Internal Security Systems Exhibition, private sector major Mahindra & Mahindra Limited has managed to initiate two joint ventures to cater the Indian defence sector. The first agreement has been to form a joint venture with Israel's Rafael Advanced Defense Systems and the other with Telephonics Corporation, subsidiary of the North America’s Griffon Corporation.
Tata Motors Is Considering Investing About Rs 600 Crore to Develop Futuristic Infantry Combat Vehicles
Tata Motors is considering investing about Rs 600 crore to develop Futuristic Infantry Combat Vehicles (FICV) and set up a manufacturing plant for rolling out FICVs for the Indian Army. “The development cost of FICV could be about Rs 300 crore and a manufacturing plant for the same could be about Rs 250 crore or above,” said Ravi Pisharody, president (commercial vehicle business unit).
Defence Ministry to Shortlist Two Vendors for $10 billion Futuristic Combat Vehicle for the Army
Following the mega deal for 126 combat fighters (MMRCA) for the Indian Air Force, it is the Indian Army’s turn now to get combat vehicles to the tune of $ 10 billion for which local players such as Larsen & Toubro, Mahindra & Mahindra, Tata Motors and Ashok Leyland are vying. The Defence Ministry will be earmarking the vendors for the contract for the Futuristic Infantry Combat Vehicle (FICV) this month.
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