Hindustani78
BANNED
- Joined
- Apr 8, 2014
- Messages
- 40,471
- Reaction score
- -47
- Country
- Location
Tata Motors to reach Rs. 4,000 crore sales from defence in 3 years - The Hindu
Updated: July 11, 2015 02:23 IST
The company won Rs. 940 crore contract to supply 1,239 units of its indigenously developed high mobility multi-axle vehicles (HMVs) from the Army.
Tata Motors, country’s largest supplier of defence vehicles from the private sector, said it is looking at clocking Rs. 4,000 crore in sales from this segment within three years.
Over the last two years, it had logged cumulative sales of Rs. 2,000 crore from the defence sector. Its current order book from this segment stands at about Rs. 2,400 crore.
The company’s optimism stems from the Modi government’s push to defence manufacturing with greater participation from the private sector, domestic as well as foreign. India imports more than 70 per cent of its defence needs, spending about USD 100 billion on such purchases annually.
The company said it has won Rs. 940 crore contract to supply 1,239 units of its indigenously developed high mobility multi-axle vehicles (HMVs) from the Army.
“These orders will be executed over the next two years, and are for the 6x6 HMVs with material handling cranes,” Tata Motors vice-president for defence and government business, Vernon S Noronha, said.
This contract is the single largest order awarded to a domestic private sector OEM (original equipment manufacturers) in the land systems so far, he told.
“This Army order is a validation of our strategy and growth potential, for our durable and extensive range of defence vehicles, designed and developed with our evolving customers, including that of security forces across the world. As leading suppliers of mobility solutions to our security forces, we will shortly commence delivery of these high-mobility vehicles,” Mr. Noronha said.
Mr. Noronha said the company has a defence order book for about Rs.1,500 crore, excluding the present army contract, and it is keen to bid for over 700 light armoured multi- roll vehicles and 100 wheeled armoured personnel carriers, that the Army wants to procure.
Of the Rs. 2,000 crore sales in the last two years, 30 per cent came from exports, he said.
Updated: July 11, 2015 02:23 IST
The company won Rs. 940 crore contract to supply 1,239 units of its indigenously developed high mobility multi-axle vehicles (HMVs) from the Army.
Tata Motors, country’s largest supplier of defence vehicles from the private sector, said it is looking at clocking Rs. 4,000 crore in sales from this segment within three years.
Over the last two years, it had logged cumulative sales of Rs. 2,000 crore from the defence sector. Its current order book from this segment stands at about Rs. 2,400 crore.
The company’s optimism stems from the Modi government’s push to defence manufacturing with greater participation from the private sector, domestic as well as foreign. India imports more than 70 per cent of its defence needs, spending about USD 100 billion on such purchases annually.
The company said it has won Rs. 940 crore contract to supply 1,239 units of its indigenously developed high mobility multi-axle vehicles (HMVs) from the Army.
“These orders will be executed over the next two years, and are for the 6x6 HMVs with material handling cranes,” Tata Motors vice-president for defence and government business, Vernon S Noronha, said.
This contract is the single largest order awarded to a domestic private sector OEM (original equipment manufacturers) in the land systems so far, he told.
“This Army order is a validation of our strategy and growth potential, for our durable and extensive range of defence vehicles, designed and developed with our evolving customers, including that of security forces across the world. As leading suppliers of mobility solutions to our security forces, we will shortly commence delivery of these high-mobility vehicles,” Mr. Noronha said.
Mr. Noronha said the company has a defence order book for about Rs.1,500 crore, excluding the present army contract, and it is keen to bid for over 700 light armoured multi- roll vehicles and 100 wheeled armoured personnel carriers, that the Army wants to procure.
Of the Rs. 2,000 crore sales in the last two years, 30 per cent came from exports, he said.
