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Guns - Artillery & Mortars | India | Other Corporation | R&D - Private | Rockets

TATA to Invest $227M in India’s Defense Sector

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Press Trust of India reports that the Tata Group has committed to investing Rs 1,000 crore (INR 10 billion, or $227 million at current conversions) for defense-related R&D efforts and corporate capabilities buildup over the next 4-5 years. “The Tata Group aims to achieve this target by exploring the synergies between group companies, leveraging its strength in strategic electronics, IT and communication to meet the needs of the armed forces in an era of digital wars.” “The investments would not only be made in getting high-quality manpower but also for research and development and infrastructure development,” said M N Bhagwat, Chairman (Strategic Council), Tata Power Strategic Electronics Division. Bhagwat also said the group was also looking for “strategic tie-ups”, including with foreign companies. So, what are their expectations? Pinaka system The Tata Group expects around Rs 1,100 crore ($250 million at current conversion) this fiscal year in defense-related revenues, and aims to double this to Rs 2,200 crore ($500 million) by the year 2008. India’s defense sector has significant state ownership, but Tata Industries Director M A Pathan said that as the government looked for more private sector involvement, Tata group will find opportunities. Despite its name, for instance, Bhagwat’s […]

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