Company has signed the joint venture agreement with Taurus Armas S.A., Brazil.
Jindal Defence, part of O P Jindal Group, has announced its advent into small arms manufacturing in India. In a move aimed towards empowering indigenous manufacturing, Jindal Defence has signed a joint venture (JV) agreement with Taurus Armas S.A., of Brazil for manufacturing an array of small arms. This JV agreement was signed today at the 1st ‘Brazil–India Defence Industry Dialogue’ of the India-Brazil Business Forum (IBBF), organized by the Ministry of External Affairs, Government of India in association with CII, ASSOCHAM, and FICCI.
The agreement proposes setting up of a JV Company at Hisar (Haryana) with equity participation from both, Jindal Defence and Taurus Armas S.A, in the equity ratio of 51:49. The JV Company will manufacture small arms in India based on the “Transfer of Technology” from Taurus to achieve localization of production in accordance with the Defence Procurement Procedures.
This forum is part of a business exchange program hosted in honour of President of the Federative Republic of Brazil, H.E. Mr Jair Bolsonaro’s official visit to India. This move by Jindal Defence is expected to bolster Indo-Brazil cooperation in the strategic defence sector.
This partnership aims to maximise existing domestic opportunities in the small arms manufacturing sector and provide significant support to the ongoing and future modernization plans of the Armed Forces, particularly the Indian Army, the Para-Military, and State Police Forces. Further, this move is in sync with the government’s vision of greater private sector participation in defence hardware manufacturing.
“To further strengthen the ‘Make in India’ vision of Indian Prime Minister, our collaboration with Taurus Armas S.A. will support self-reliance in strategic small arms manufacturing. The JV Company envisages creation of world-class infrastructure along with adoption of best manufacturing practices to achieve perfection in design and engineering and achieve high quality standards. Moreover, with the technological expertise emerging with this JV, we aim to support the emerging demands of the Indian Armed Forces”, said Promoter, Jindal Defence, Mr Abhyuday Jindal.