Adani Allocates $ 362 mn for two local defence factories

04 Mar 2024 CW Team

The factories, constructed by Adani Defence & Aerospace, a closely held firm within the Adani Group, are situated in Kanpur, Uttar Pradesh, spanning 500 acres. According to Karan Adani, the founder's son overseeing the fledgling defense business, these facilities will be dedicated to the production of small, medium, and large caliber ammunition for the armed forces, paramilitary forces, and police.

During the inauguration, he mentioned that the factories will annually produce 150 million rounds of ammunition, accounting for approximately a quarter of India's requirements. Furthermore, they are designed to cater to the diverse needs of the Indian Armed Forces.

Karan Adani, who is also the chief executive director of Adani Ports and Special Economic Zone, conveyed this information at a news conference in Colombo, Sri Lanka, on November 8, 2023.

Prime Minister Narendra Modi has intensified calls to enhance indigenous manufacturing and decrease dependence on imports, creating significant business opportunities for conglomerates such as the Adani Group, Tata Group, Larsen & Toubro, and Mahindra Group.

Adani emphasized that India's heavy reliance on imports for defence needs not only limits the country's strategic autonomy but also hampers its economic potential. Adani, also serving as the chief executive officer of Adani Ports and Special Economic Zone, expressed these sentiments.

The manufacturing facility, expected to generate over 4,000 jobs, has the goal of producing 200,000 rounds annually of large caliber artillery and tank ammunition by 2025. Additionally, it aims to manufacture five million rounds of medium caliber ammunition a year later. The facility will also possess the capability to produce short-range and long-range missiles.

Billionaire Gautam Adani's conglomerate initiated the establishment of two defense facilities in northern India this week with an investment of Rs 30 billion. This move aims to strengthen the country's campaign for self-reliance and the promotion of local manufacturing. The factories, constructed by Adani Defence & Aerospace, a closely held firm within the Adani Group, are situated in Kanpur, Uttar Pradesh, spanning 500 acres. According to Karan Adani, the founder's son overseeing the fledgling defense business, these facilities will be dedicated to the production of small, medium, and large caliber ammunition for the armed forces, paramilitary forces, and police. During the inauguration, he mentioned that the factories will annually produce 150 million rounds of ammunition, accounting for approximately a quarter of India's requirements. Furthermore, they are designed to cater to the diverse needs of the Indian Armed Forces. Karan Adani, who is also the chief executive director of Adani Ports and Special Economic Zone, conveyed this information at a news conference in Colombo, Sri Lanka, on November 8, 2023. Prime Minister Narendra Modi has intensified calls to enhance indigenous manufacturing and decrease dependence on imports, creating significant business opportunities for conglomerates such as the Adani Group, Tata Group, Larsen & Toubro, and Mahindra Group. Adani emphasized that India's heavy reliance on imports for defence needs not only limits the country's strategic autonomy but also hampers its economic potential. Adani, also serving as the chief executive officer of Adani Ports and Special Economic Zone, expressed these sentiments. The manufacturing facility, expected to generate over 4,000 jobs, has the goal of producing 200,000 rounds annually of large caliber artillery and tank ammunition by 2025. Additionally, it aims to manufacture five million rounds of medium caliber ammunition a year later. The facility will also possess the capability to produce short-range and long-range missiles.