New Delhi: Anil Ambani’s Reliance Group is preparing to enter the defence sector. Reliance Group never made a military helicopter, missile system or submarine but this isn’t stopping the Indian tycoon from seeking to win contracts to manufacture all the military hardwares. Anil Ambani firm to bid for 840 billion Indian rupees for the government contracts says senior officials, thought they haven’t won any of those yet.
The success of the strategy will depend partly on whether he can persuade government officials and international partners that he can build sophisticated equipment and partly on whether Prime Minister Narendra Modi can get India's notoriously slow procurement process to work.
PM Modi has made defence a big part of his "Make in India" programme. As part of any defence contract, he is demanding foreign companies tie up with a local partner, transfer technology and move some manufacturing to India.
At stake is $250 billion in defence contracts the government is expected to award over the next 10 years as it looks to upgrade the military's aging equipment. "We hope to have a significant share of this pie," said R K Dhingra, chief executive of Reliance Defence. He predicted the company will "emerge as a key player in the defence sector over the next few years."