India which has the world’s third largest armed force with an annual defence budget of around $34.53 billion (Rs 218,126 crore) out of which 31.1 percent being spent on capital acquisition, making the defence supply segment lucrative for OEMs.
06 Sep 2017 | 3790 Views | By Nilesh Wadhwa
Ashok Leyland Defence Systems (ALDS) has signed a Memorandum of Understanding (MOU) with Russia based Rosoboronexport and Elcom Group that will help the domestic major to indigenise manufacturing and servicing for all types of tracked vehicle solutions to the Indian armed force.
Rosoboronexport (ROE) is the only state organisation ...
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Ashok Leyland Defence Systems (ALDS) has signed a Memorandum of Understanding (MOU) with Russia based Rosoboronexport and Elcom Group that will help the domestic major to indigenise manufacturing and servicing for all types of tracked vehicle solutions to the Indian armed force.
Rosoboronexport (ROE) is the only state organisation in Russia for export of the entire range of military products and technologies. ROE represents Russian companies who are manufacturers of Infantry Fighting Vehicles and Main Battle Tanks and are currently working with the Indian Army.
The ELCOM Group is an emerging significant player in strategic electronics, avionics and tactical communication globally.
Congratulating ALDS, ELCOM and the Rosoboronexport team, Vinod K. Dasari, MD, Ashok Leyland, said, “Ashok Leyland is fully committed to ‘Make in India’ and the signing of this MOU is a step towards the same direction. This new partnership allows Ashok Leyland to provide all types of tracked vehicle solutions to the Armed Forces.”
Signing the MOU on behalf of ALDS, Amandeep Singh, head - Defence, Ashok Leyland, said, "We are happy that Rosoboronexport has chosen ALDS and ELCOM as its partners in India to address the Tracked Vehicle Upgrade Programs of Indian Armed Forces. The issue of indigenisation and availability of service and parts, which has been an area of concern, will now be addressed as ALDS and ELCOM will be responsible for manufacturing in India and also for providing life cycle support.”
India which has the world’s third largest armed force with an annual defence budget of around $34.53 billion (Rs 218,126 crore) out of which 31.1 percent being spent on capital acquisition, making the defence supply segment lucrative for OEMs.
With the Indian government opening the defence sector for private sector participation and a policy that promotes self-reliance, indigenisation, technology upgradation and achieving economies of scale including development of capabilities for exports in the defence sector. Many domestic and international OEMs are gunning for the lucrative government orders including major OEMs Tata Motors, Mahindra & Mahindra, Ashok Leyland, among others. And component suppliers Bharat Forge, Timken India, MRF Tyres, Shriram Group, Lucas-TVS, Tamboli Castings, Amtek Group and many others.