LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Reliance Defence partners with Yugoimport to manufacture Rs 20,000 crore worth ammunition for India's defence forces

Anil Ambani, in its meeting with President of Serbia, signed a pact with Yugoimport  for manufacturing Rs 20,000 crore worth ammunition for next 10 years. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
 Reliance Defence partners with Yugoimport to manufacture Rs 20,000 crore worth ammunition for India's defence forces
Reliance ADAG chairman Anil Ambani addresses a press conference in Mumbai. Photo: IANS
Written By: ZeeBiz WebTeam
Updated: Tue, Jun 20, 2017
02:36 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Reliance Infra expects defence to become its leading business vertical Reliance Infra expects defence to become its leading business vertical
Anil Ambani to spell out defence biz plans Anil Ambani to spell out defence biz plans
Key Highlights: 
  • Reliance Defence joint hands with Serbia-based Yugoimport 
  • Both companies will work on ammunition and spend Rs 20,000 crore in next 10 years
  • Share price of Reliance Defence gains by nearly 4%

Reliance Infrastructure on Tuesday informed BSE that its subsidiary Reliance Defence Ammunition has entered into a strategic partnership with Serbia's Yugoimport to manufacture ammunition in India.

Reliance Defence and Yugoimport will work together in the field of ammunition with projected minimum requirement of Rs 20,000 crore over next 10 years from Indian armed forces, it said. 

The deal was signed by Anil Ambani, chairman of Reliance Group after his meeting with Aleksandar Vucic, the President of Serbia, where they announced partnership with Yugoimport covering wide areas of cooperation in the Defence sector.

Additionally, there is a large requirement which is currently being met through imports and there is a potential for greater indigenisation, Reliance Defence said in a statement. 

It added, "Indian government recently issued eight RFPs for different grade of ammunition, opening the field to the private sector for the first time."

Reliance will also undertake joint development of next generation ammunition to meet the future requirements of the Indian armed forces.

India currently imports nearly 50% of its ammunition requirements by value term, with an annual spending of more than Rs 10,000 crore on ammunition.

Share price of Reliance Defence surged by nearly 4% in the intraday trading most since June 08, 2016.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Reliance Defence and EngineeringReliance Defence partners with YugoimportYugoimportReliance InfrastructureAnil AmbaniReliance Defence sharesIndian Defence forcesDefenceSharesMarketsReliance Defence AmmunitionInfrastructure
RELATED NEWS
Reliance Infra expects defence to become its leading business vertical Reliance Infra expects defence to become its leading business vertical
Anil Ambani to spell out defence biz plans Anil Ambani to spell out defence biz plans

LATEST NEWS

YES Bank stock! Expert suggests Rs 17-18 target price for this lender

LIC Alert – NEVER surrender your existing policy for exaggerated offers promised by fraudsters, REPORT at spuriouscalls@licindia.com

CBSE Class 10 Class 12 Board Exams – Students, Parents welcome Govt’s Decision to Cancel CBSE Board exam 2021

Even in pandemic FY21 NOT a DUD – Money raised via IPOs, FPOs up by a WHOPPING 115%

Mid-Cap Stock Picks With Anil Singhvi: Aarti Surfactants, Greaves Cotton and FDC are top recommendations

BIG - CBSE Board Exams 2021 - Class 10th boards CANCELLED, Class 12th postponed - Get FULL DETAILS here

Garena Free Fire OB27 update: Check early patch notes, confirmed features, upcoming changes and more NOW

Gold Price Today 14-04-2021: Gold turns EXPENSIVE, hits Rs 49,000-mark, in Delhi markets, Silver at 70,000; Expert tells INVESTMENT strategy

Anil Singhvi recommends BUY on DLF; know the key levels and TARGET here

Free Fire OB27 update: Check release date and time in India, upcoming patch, weapons and more

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved