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Anil Ambani announces Rs.5,000 crore new defence investment

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New Delhi: With the recent acquisition of Pipavav Defence, Reliance Group chairman Anil Ambani announced on Thursday that an additional investment of Rs.5,000 crore will be made as part of India’s emphasis on “Make in India” for military hardware and cut imports.

He also underscored the need for larger public-private partnerships in the defence domain, and called for pooling of resources so that India becomes self-reliant in protecting its boundaries and cuts reduces its dependence on the global markets.Credits: https://www.google.co.in/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB1qFQoTCIzhq76038YCFQlwjgodT10DkQ&url=https%3A%2F%2Fwww.wharton.upenn.edu%2F125anniversaryissue%2Fambani.html&ei=E4OnVcyLCYnguQTPuo2ICQ&bvm=bv.97949915,d.c2E&psig=AFQjCNGMFw6B-S3yAE3is9AJqPKKhaUAbg&ust=1437127716377216

Quoting extensively from the experiences he gained from his late father, the legendary industrialist Dhirubhai Ambani, the Reliance Group chairman said his father’s vision was to meet the aspirations of generations with self reliance, adding that the Make in India initiative of Prime Minister Narendra Modi is a major step towards that.

“This initiative of the government redefines the defence ecosystem in India with our Navy in the lead… For a country with one of the longest coastlines in the region and vast expanse of territories over the seas, self reliance in naval capabilities is an ever challenging imperative,” he said.

The Reliance Group chairman said the acquisition of the Pipavav Defence Company in Gujarat with assets worth more than Rs.10,000 crore was his company’s contribution towards self reliance.

“Pipavav has the largest dry dock in the country and the second largest in the world. With more than 30 lakh sq ft of covered area for fabrication and integration alone, this is perhaps the largest single location defence manufacturing facility in India,” he said.

“We will invest an additional Rs.5,000 crore over the next few years as part of our commitment towards indigenisation efforts.”

He said that the Pipavav facility will be capable to deliver “all requirements of the Indian Navy from frigates to aircraft carriers to submarines”.

Russia, meanwhile, has chosen Pipav as a partner to build three updated versions of Talwar-class frigates, likely to be the biggest-ever warship-building project for private sector in India worth around $3-$3.5 crore.

Ambani said self reliance in defence is also needed so that India does not have to compromise on its foreign policy.

“Large part of our Defence inventory have dependency on global relations. This creates limitations and sub-serves our foreign policy. Self-reliance gives us the flexibility to pursue our foreign policy objectives,” he said.

He said since the sole consumer for domestic defence hardware was the government, “specific measures towards ease of doing business will encourage industry participation”. Accordingly, he suggested an advisory committee with chief executives from public and private sectors to meet regulary to “align and converge the understanding and aspirations of all stakeholders”.

“There is need to institutionalise private sector participation not only for indigenisation but the entire spectrum of defence production through groups comprising Private Sector companies and PSUs at MoD to pool resources,” he said also suggesting a separate joint secretary in the defence ministry for the private sector.

“Today, in the ministry of Defence we have joint secretaries responsible for different public sector undertakings. I believe there is a case for a joint secretary exclusively to engage at the business level with the private sector,” he said.

Ambani also expressed hope that the updated defence procurement procedure (DPP) will help “in ease of doing business with MoD… Transparent, fair procedures and processes creates a favourable climate, encourage competitiveness and eventually deliver the best overall value for the country,” he said.

Another suggestion from the industrialist was to introduce courses at IITs, IIMs and other higher learning institution related to the requirements of the defence industry.

(IANS)

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Narendra Modi Lays Foundation Stones For Thane Metro, Mass Housing Project

Present on the occasion were Maharashtra Governor C.V. Rao and Chief Minister Devendra Fadnavis besides other dignitaries and he later departed for Pune to lay the foundation stone for a Metro project there

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Narendra Modi
Narendra Modi (Wikimedia Commons)

Virtually kicking off the BJP campaign for 2019 elections, Prime Minister Narendra Modi targeted the Congress governments for various lapses while laying foundation stones for Thane district Metro Rail and a mass housing project here on Tuesday.

In Kalyan, Modi performed the ground-breaking ceremony for the Thane-Bhiwandi-Kalyan Metro and the Dahisar-Mira-Bhayander Metro corridor projects to ease the transportation problems in these bustling towns, at an estimated cost of around Rs 33,000 crore.

Simultaneously, he also laid the foundation stone for an ambitious project to construct 90,000 homes for poor sections of society under the Pradhan Mantri Awaas Yojana (PMAY) to be completed within three years.

Speaking on the occasion, he said Mumbai and Thane are expanding and exerting huge pressures on the local resources, especially road and rail transports.

To mitigate the sufferings of the masses, many efforts have been taken up to improve the transport systems of the two cities in the past four-and-half years of the Bharatiya Janata Party (BJP) government, he said.

“India is the world’s only country where urbanisation is taking place at a fast pace. Mumbai is the centre of economic activities and will further expand in the coming time. Hence transportation is a vital link to the development of any city or the country,” Modi pointed out.

Targeting the previous Congress government, he said the first Metro project in Mumbai was taken up in 2006 and after eight years, only 11 km was started in 2014.

According to LocalCircles, each person who voted in the survey is registered with the portal with their detailed information and in many cases they shared their residential address.
PM lays stones for Thane Metro, mass housing project, IANS

“We don’t know why it was stuck. After 2014, we decided to increase the pace of laying Metro lines and the scale in the form of a Metro Net in the city. It will add 35 km within the next three years and between 2022 and 2024, Mumbai will have have around 275 km of Metro network,” Modi said.

To mark the Platinum Jubilee (75 years) of India’s Independence, he said the government is moving to ensure that every family in India has a permanent home to live.

“The goal here is to build 90,000 new homes for the poor which I am told will be ready in three years. Maharashtra will get 800,000 new houses for the weaker sections under the PMAY. Under this, we are directly crediting Rs 250,000 loan into the bank accounts, besides helping the lower and middle classes to get bank housing loans,” Modi said.

He said with the Real Estate Regulatory Authority (RERA) getting notified in most states, Maharashtra became the first to implement it, and it has resulted in huge transparency in all housing deals, which did not exist in the past 70 years.

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“Around 35,000 real estate projects across India and 27,000 real estate agents have been registered under RERA. According to a report, the speed of buying new homes has doubled in the past seven-eight months compared to the previous year,” Modi pointed out.

He reiterated that in the final four years of the previous UPA government, only 2.55 million homes were construction, but in the past four years of the present NDA government, 12.50 million houses have been constructed under the PMAY.

Present on the occasion were Maharashtra Governor C.V. Rao and Chief Minister Devendra Fadnavis besides other dignitaries and he later departed for Pune to lay the foundation stone for a Metro project there. (IANS)