Reliance Defence inks pact with Serbia's Yugoimport to make ammunition in India
Partnership eyes Rs 20,000 crore worth of orders from Indian armed forces over 10 years as Anil Ambani-led Reliance Group bets on the defence sector
In yet another indication of the heightened interest among global defence manufacturers to explore the Indian market, Yugoimport, a Serbian state-owned company that makes ammunition, signed a strategic partnership with Reliance Defence Ammunition (RDA), an Anil Ambani-led Reliance Group firm.
RDA, which is a subsidiary of Reliance Infrastructure, and Yugoimport will “work together in the field of ammunition, amongst others, with projected minimum requirement of Rs 20,000 crore over the next 10 years from the Indian armed forces,” a statement issued on Tuesday read.
After coming to power in 2014, the Narendra Modi-led Indian government had liberalised the norms governing foreign direct investment (FDI) in the defence sector. FDI to the extent of 49 percent is allowed under the automatic route, and FDI beyond that limit may be permitted if the government approves such a plan on a case-to-case basis.
But in the absence of any concrete and meaningful orders awarded out to these private sector and foreign companies, many of these partnerships exist on paper without much operations on the ground.
To further strengthen private sector participation in the Indian defence sector, the government also announced the Strategic Partnership Model that aims to create a defence manufacturing ecosystem comprising large companies and small and medium enterprises, by selecting certain private firms to build submarines and fighter jets in India in partnership with foreign companies.
According to Reliance’s statement, the Indian government has recently issued eight RFPs (request for proposal) for different grades of ammunition, opening up this area to private sector participation for the first time. These proposals envisage transfer of technology by the OEM (original equipment manufacturer)—usually the foreign company—and indigenous manufacturing in India. India currently imports 50 percent of the ammunition requirement by value, which is worth around Rs 10,000 crore.
http://www.forbesindia.com/article/...ugoimport-to-make-ammunition-in-india/47303/1
Stavatti and Jugoimport Enter Into New Aircraft Development Agreement
Stavatti Aerospace Ltd. and Jugoimport-SDPR J.P. entered into an Agreement today to develop and produce a new single engine aircraft. This aircraft will be produced at the UTVA aircraft factory in Pancevo, Serbia and exported worldwide.
This Agreement is the first Addendum to the Agreement on Strategic Partnership and Long Term Business and Technical Cooperation that was entered into on April 19th. The Agreement was signed by Christopher Beskar for Stavatti and Aleksandar Lijakovic for Jugoimport-SDPR in Belgrade.
Founded in 1949, Jugoimport-SDPR is a Serbian Defense & Industrial Complex integrator responsible for developing, producing, and trading combat systems and defense equipment for regional and global customers.
Founded in 1937, UTVA has produced over 900 aircraft including the Trojka, 212, 213, Aero-3, Utva 56, Utva 60, Utva 65, Utva 66, Utva 75 and Lasta 95. UTVA also produced major airframe structures and assemblies for the J-22 Orao and the G-4 Super Galeb. UTVA is ISO 9001 Certified and was certified by Boeing in 1990 as an airframe parts and assemblies manufacturer responsible for producing machined and sheet metal aircraft parts, tools, and assemblies, including slats, wing tips, cargo doors, and floor supports for 737, 747 and 757 commercial airliners.
http://www.stavatti.com/stavatti-and-jugoimport-enter-into-new-aircraft-development-agreement/
