Jindal Defence forays into small arms manufacturing - Company signs joint venture agreement with Taurus Armas S.A., Brazil
The agreement proposes setting up of a JV Company at Hisar (Haryana) with equity participation from both, Jindal Defence and Taurus Armas S.A, in the equity ratio of 51:49. The JV Company will manufacture small arms in India based on the Transfer of Technology from Taurus to achieve localization of production in accordance with the Defence Procurement Procedures.
“To further strengthen the ‘Make in India’ vision of Hon’ble Indian Prime Minister, our collaboration with Taurus Armas S.A. will support self-reliance in strategic small arms manufacturing. The JV Company envisages creation of world-class infrastructure along with adoption of best manufacturing practices to achieve perfection in design and engineering, and achieve high quality standards. Moreover, with the technological expertise emerging with this JV, we aim to support the emerging demands of the Indian Armed Forces”, said Promoter, Jindal Defence, Mr Abhyuday Jindal.
This partnership aims to maximise existing domestic opportunities in the small arms manufacturing sector and provide significant support to the ongoing and future modernization plans of the Armed Forces, particularly the Indian Army, the Para-Military, and State Police Forces. Further, this move is in sync with the government’s vision of greater private sector participation in defence hardware manufacturing.
Jindal Defence is engaged in the business of manufacturing products for defence and other strategic sectors. O P Jindal Group, a US $ 25 billion global business conglomerate, has interests spanning the steel, mining, power, industrial gases, ports, and defence verticals. The Group is successfully operating in a wide spectrum of the manufacturing sector globally with exceptional capabilities in project management.
Taurus Armas S.A, Brazil is one of the largest firearms manufacturers in the world, with a wide range of small arms in its portfolio. The Company exports arms to over 100 countries and caters to the diversified requirement of military, law enforcement, and commercial markets. Taurus’ small arms are globally acknowledged for high reliability, accuracy, durability, safety, unique features and ease of use.