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Reliance Defence eyes ammo business

The Anil Ambani Group company Reliance Defence Ammunition has recently entered a strategic alliance with the Serbian state-run defence major Yugoimport to manufacture ammunition in India and target business opportunities of Rs 20,000 crore over the next 10 years. This was disclosed by the company a day after Mr Anil Ambani, Chairman of Reliance Group, met the President of Serbia, Aleksandar Vucic in Belgrade.  Defence Minister of Serbia, Zoran Dordevic, Assistant Minister of Defence Nenad Moloradovic and the CEO of Yugoimport were also present at the meeting. Reportedly, the two companies will work together for production of ammunition for the Indian Armed Forces valued at approximately Rs 20,000/- over the next 10 years. The Reliance Defence Ltd. (RDL) also plans to foray into joint manufacture of new generation ammunition for the future requirements of the Defence Forces.  The company is also eyeing the  possibility of export of ammunition. As per the company, Yugoimport, a state-owned enterprise, and a market leader in the field of ammunition production,  has offered a fully compliant technical solution to meet the ‘Make in India’ requirements of the Indian government.

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