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Reliance Defence Limited plan to raise 11 new companies, applied for licences

Indian company Reliance Defence Limited has applied for 13 new licences to design, develop and manufacture military equipment ranging from UAVs and spacecraft to submarine systems. The plan is to raise 11 new companies focused on defence which will be used as joint venture partners with foreign manufacturers looking at the Make in India initiative or for licence production of equipment. It is also looking to export defence products from India.

Source: http://economictimes.indiatimes.com/news/defence/after-acquiring-pipavav-shipyard-anil-ambani-goes-big-on-defence-raises-11-new-companies/articleshow/47669197.cms

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