New Delhi, Nov 20 (IANS) The government has approved conditionally 12 licences for industrialist Anil Ambani-led Reliance Group in the defence and related sectors, spanning areas like aircraft, choppers, missiles, night vision equipment, and naval and land systems.
According to the list put up by the Department of Industrial Policy and Promotion on Friday, these are part of the 32 approvals extended during the meeting of the licensing committee held on November 6 this year.
Other projects include those of Ideal Industrial Explosives, Comvia Systems, Continental Defence, OIL Advance Technology, Shan Arms, Ananth Technologies, Kuber Products, C Det Explosives, Ideal Detonators, Beejasan Explotech and Naistoco India.
In the case of Reliance Group, all the projects are slotted for Gujarat. The approvals are for eight subsidiaries of Reliance Defence, a part of Reliance Infrastructure, covering greenfield projects of the armed Forces under the “Make in India” programme.
Anil Ambani told shareholders recently that defence manufacturing and smart cities will be the future drivers of growth for the company, and that the major acquisition of Pipavav Defence will be concluded in the current year.
Apart from these projects, the Maharashtra government has allotted 289 acres of land near Nagpur for the group’s upcoming aerospace park that entails an investment of over $1 billion.
Reliance Defence has 11 subsidiaries in niche segments of the sector. It is pursuing partnerships with several leading international companies, besides looking at stakes in some existing firms in the country and outside to meet home-grown solutions for the sector.
It is also acquiring Pipavav Defence and Offshore Engineering with 18 percent of promoters’ stake, along with an open offer for another 26 percent of the share capital.