Wednesday, April 11, 2018

Defexpo-2018 Day-1

Govt. announces creation of a dedicated defence & aerospace SME fund

CHENNAI, 11 April 2018: Secretary, Department of Defence Production, MoD, Dr. Ajay Kumar today announced creation of a dedicated defence & aerospace SME fund, registered with SEBI where minority stake could be taken by investors. This fund would help channelize investments into the two defence corridors announced by the Government in Tamil Nadu & Uttar Pradesh.

During the FICCI Session on ‘Offsets: Way forward towards a win-win framework’, held at the Defexpo 2018, Dr. Ajay Kumar shared the Government’s thought process on major reforms in the offset policy. He said that the OEMs and the Government were both dissatisfied with the earlier policy and the MoD wishes to indulge in a larger dialogue with all stakeholders.

Dr. Kumar highlighted that the new paradigm would focus on three principles - investment in defence infrastructure like Government identified PSU/ quasi-PSU projects, providing higher incentives for transfer of ‘Know Why’ and targeted offset discharge. He added “Investments into testing infrastructure, training facilities and test beds would attract higher value of multiplier”.

The government has addressed the current concerns of OEMs of delays in offset discharge by putting in place a framework for ensuring ease in doing business. In addition, measures such as facilitating third party certification based on data provided by the Registrar of Companies (ROC) subject to physical verification and statutory audits have also been taken.

MKU and Thales team up to develop optronic devices and close quarter battle rifles for the Indian Army

Chennai, April 10, 2018:MKU Limited and Thales have signed two MoUs for strategic co-operation in the development and production of optronic devices and F90close quarter battle (CQB)rifle for soldiers. The optronic devices will be co-developed by Thales and MKU and both the optronic devices and F90 rifles will be manufactured in India at MKU’s facilities in Kanpur, Uttar Pradesh. These products will be offered to the Indian army and homeland security forces under the ‘Make in India’ initiative of the Government. 

On the occasion, Mr. Neeraj Gupta, MD of MKU said,“MKU is pleased to sign the strategic co-operation MoUs with Thales. This partnership will not only focus on meeting the requirements of our forces in India, butwill also look at exporting the products to other parts of the world.”

Alex Cresswell, Senior Executive Vice-President for Land & Air Systems at Thales said,"We are very pleased to work in close collaboration with MKU for the development of weapons and optronic devices to address specific needs of the Indian and international markets. This co-development partnership reaffirms our commitment to India and is the result of our ambition to support soldiers on operations."

The strategic co-operation for optronic devices between Thales and MKU is committed to enhancing the night fighting capabilities of the Indian Army and homeland security forces. It envisages manufacturing of optronics equipment including weapon sights, night vision goggles, handheld thermal imagers and thermal infrared sensor engine for soldier systems, and other image intensification and thermal imaging systems for soldiers and platforms respectively.

For weapons, the two companies plan to cooperate so that MKU could set-up an assembly and manufacturing plant in India for the carbine version of the F90 assault rifle, combat-proven and already in service with Australian Defence Forces. Light, balanced and accurate, the F90CQB (Close Quarter Battle) developed with MKU will be well suited to Indian conditions and requirements.

About MKU:

MKU Limited is a leading defence company in India with a footprint in over 100 countries.It has state-of-the-art manufacturing and test facilities for Electro-Optics in India that complies to JSS 55555 & MIL 810G standards. The company is already supplying night vision devices to Special
Forces, CAPFs and State Police Forces in India and is participating in various tenders from the tri-services under MoD and CAPFs under MHA.

MKU is already aGlobal leader in the manufacture of Ballistic solutions for Personnel and Platforms.Its products are trusted and used by over 230 forces in the world.  The company is currently executing an Indian MoD contract for 158,279 Ballistic Helmets for the Indian Army and Navy.

The company has already announced its plans to diversify into weapon systems and will be setting up a manufacturing facility for the same in the newly announced Defence Corridor in UP.

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