Thursday, April 18, 2024
Latest News
Contractual Worker: Hc: Contractual Worker Has No Right To The Post | Allahabad News Volvo Profits Top Hopes Despite Easing Demand Arizona Republicans Splinter Over Repeal of 1864 Abortion Ban Water Supply: Water Supply Ramped Up To Meet Demand | Ahmedabad News Malabar Gold sees RS 51,000 crore annual sales Hong Kong restaurant Otera’s impressive dessert tasting experience highlights underappreciated ingredients ONE Championship: Rodtang faces Denis Puric in flyweight kickboxing bout at ONE 167 China’s autonomous driving players struggle to turn a profit despite heavy investments Trump lawyers say Stormy Daniels refused subpoena outside a Brooklyn bar, papers left 'at her feet' Food truck kingpin arrested in Stanislaus County on suspicion of theft Bhagalpur Lok Sabha Seat: Cong Goes All Out To Regain Lost Glory In Bhagalpur | Patna News Vinci Buys Majority Stake in Edinburgh Airport Met Gala 2024: Things to look forward to this year | IPL 2024: Bowlers shine as Delhi Capitals humble Gujarat Titans by six wickets | Cricket News Shock poll: Trump edges past Biden in key state, potential sign of cracks in Dems blue wall Funskool: Funskool Expands In Tamil Nadu | Chennai News China preps for tourism boom on May Day holiday as early bookings rocket past pre-pandemic levels US lawmakers target Chinese military firms helping Russia with bill imposing ‘full blocking sanctions’ Juventus ordered to pay Cristiano Ronaldo 9.7 million euros in back salary | Football News 7 Waymo robotaxis block traffic to San Francisco freeway on-ramp Missing medical colleges: On the case of the Madurai AIIMS Miscalculation Leads to Escalation as Israel and Iran Clash 2024 NFL jersey redesigns: Browns latest team to make change Bangalore News: When Bengaluru traffic dominates poll talk in Kerala | Bengaluru News Tesla asks investors to OK Musk's 56 billion dollar pay again AI roundup [April 17]: Adobe unveils Acrobat AI assistant, India eyes Nvidia GPUs for AI mission and more Air National Guard changes in Alaska could affect national security, civilian rescues, staffers say Biden says uncle shot down over area populated by cannibals in World War Two Muzaffar Ali and Meera Ali on World Heritage Day: Delhi is Delhi because of its monuments | Delhi News Just Eat Orders Drop But Keeps Outlook
HomeBusinessAdani invests $362 million to build two local defence factories | India...

Adani invests $362 million to build two local defence factories | India Business News



Billionaire Gautam Adani’s conglomerate started two defense facilities in northern India this week at an investment of 30 billion rupees ($362 million), bolstering the country’s campaign to become self-reliant and promote local manufacturing.
Built by Adani Defence & Aerospace, a closely held firm in the Adani Group, at Kanpur in the Uttar Pradesh state across 500 acres, these factories will produce small, medium and large caliber ammunition for the armed forces, paramilitary forces and police, according to Karan Adani, founder’s son who’s overseeing the fledgling defense business.
The factories will produce 150 million rounds of ammunition annually — roughly a quarter of India’s requirements — and cater to the diverse needs of Indian Armed Forces, he said during the inauguration on Monday.
Karan Adani, chief executive director of Adani Ports and Special Economic Zone Ltd., at a news conference in Colombo, Sri Lanka, on November 8, 2023.
Prime Minister Narendra Modi has ratcheted up calls to boost indigenous manufacturing and reduce reliance on imports, creating business prospects worth billions of dollars for country’s conglomerates such as the Adani Group, Tata Group, Larsen & Toubro Ltd. and Mahindra Group.
India’s heavy dependence on imports for defense requirements has not only constrained country’s strategic autonomy but also limited its economic potential, said Adani, who’s also the chief executive officer of Adani Ports and Special Economic Zone Ltd.
The manufacturing facility, that is expected to create over 4,000 jobs, aims to produce 2,00,000 rounds annually of large caliber artillery and tank ammunition by 2025, and five million rounds of medium caliber ammunition a year later. It’ll also be capable of making short-range and long-range missiles.
Adani defence already manufactures drones, anti-drone systems and small arms including light machine guns, assault rifles and pistols, according to the company’s website.

function loadSurvicateJs(allowedSurvicateSections = []){ const section = window.location.pathname.split('/')[1] const isHomePageAllowed = window.location.pathname === '/' && allowedSurvicateSections.includes('homepage')

if(allowedSurvicateSections.includes(section) || isHomePageAllowed){ (function(w) { var s = document.createElement('script'); s.src="https://survey.survicate.com/workspaces/0be6ae9845d14a7c8ff08a7a00bd9b21/web_surveys.js"; s.async = true; var e = document.getElementsByTagName('script')[0]; e.parentNode.insertBefore(s, e); })(window); }

}

window.TimesApps = window.TimesApps || {}; var TimesApps = window.TimesApps; TimesApps.toiPlusEvents = function(config) { var isConfigAvailable = "toiplus_site_settings" in f && "isFBCampaignActive" in f.toiplus_site_settings && "isGoogleCampaignActive" in f.toiplus_site_settings; var isPrimeUser = window.isPrime; if (isConfigAvailable && !isPrimeUser) { loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive); loadFBEvents(f.toiplus_site_settings.isFBCampaignActive); loadSurvicateJs(f.toiplus_site_settings.allowedSurvicateSections); } else { var JarvisUrl="https://jarvis.indiatimes.com/v1/feeds/toi_plus/site_settings/643526e21443833f0c454615?db_env=published"; window.getFromClient(JarvisUrl, function(config){ if (config) { loadGtagEvents(config?.isGoogleCampaignActive); loadFBEvents(config?.isFBCampaignActive); loadSurvicateJs(config?.allowedSurvicateSections); } }) } }; })( window, document, 'script', );



Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments

Latest News