Anil Ambani-led Reliance Defence has entered into a strategic partnership with leading South Korean defence major LIG Nex1.
This is to jointly explore opportunities in the supply of weaponry and ammunition systems to the Indian Army.
As part of the agreement, both companies will explore opportunities in the identified range of defence products required by the armed forces, according to a company statement.
LIG Nex1 is emerging as a leader in smart heavy weapons in the category of anti-ship missiles, anti tank guided missiles (ATGMs) and guided rockets, the statement said.
Currently, there are multiple programmes for the Indian armed forces that the two companies plan to address together.
This will potentially include improvements to the existing weapon systems which are part of LIG Nex1 portfolio to meet the specific requirements of the army.
The cumulative value of the programmes being targeted will exceed many billion dollars.
The two companies have also identified air defence and surveillance radar, that can be manufactured in India, as potential area for co-operation, the statement said.
The firms will also work on performance enhancement for various systems/platforms in the portfolio of LIG Nex1 to meet the specific requirements of the Army.
India and South Korea relations were upgraded to Special Strategic partnership during PM Modi's visit.
Skills developed and the experience gained through this collaboration will further add to Reliance Group’s capabilities and establish lead position in the Indian Market.Reliance Defence: Know More
- Headquarters: Navi Mumbai
- Founded: 1997
- Number of employees: 4000
- Founders: Nikhil Prataprai Gandhi, Bhavesh Prataprai Gandhi
- Major Subsidiary: Pipavav Lighter than Air Systems Private Limited.