Due to the tension between India and Pakistan, the strength of India's defense sector has become evident. Additionally, it has been revealed that exports from India's defense sector have also increased. Recently, it has been reported that Anil Ambani's Reliance Defence has signed a contract with the German arms manufacturer Rheinmetall AG for the supply of explosives, including cannon-balls and ammunition, from a plant to be established in Maharashtra.
Reliance Defence will set up a greenfield plant in Maharashtra to manufacture and supply the ammunitions, it said in a statement
A strategic partnership
Reliance Defence has said in a statement that Reliance Defence Limited, promoted by Reliance Infrastructure Limited, and Dusselford-based Rheinmetall AG have agreed on a strategic partnership in the ammunition sector. A contract to this effect has now been signed by the representatives of both the companies.
Third defence agreement
This is the group's third defence agreement after the joint undertaking with Dassault Aviation and France's Thales. Also, talks are being held on engaging in joint marketing activities for selected products by both the companies and can expand their cooperation based on future opportunities.
Partnership can boost India's defense manufacturing capacity
This strategic partnership can strengthen India's defense manufacturing capacity by linking it with the government's Make in India and Atmanirbhar Bharat campaign. It furthers the vision of making India one of the world's leading defense manufacturers. This new unit can help Reliance Defense achieve its target of being included in the country's top 3 defense manufacturers.
Since Operation Sindoor, a boom can be seen in India's defense sector. As a result it is also being seen that the shares of defense companies are also witnessing a tremendous jump.