Punj Lloyd and IWI set-up In­dia’s first pri­vate sec­tor small arms man­u­fac­tur­ing plant

SP's MAI - - CORPORATE NEWS -

Diver­si­fied con­glom­er­ate Punj Lloyd and its JV Part­ner, Israel Weapon In­dus­tries (IWI), re­cently in­au­gu­rated the coun­try’s first pri­vate-sec­tor small arms man­u­fac­tur­ing plant at Malan­pur in Mad­hya Pradesh. Presided over by the Chief Min­is­ter of Mad­hya Pradesh, Shivraj Singh Chouhan, and the Min­is­ter of Rural Devel­op­ment, Pan­chay­ati Raj, Drink­ing Wa­ter and San­i­ta­tion, Naren­dra Singh To­mar, the in­au­gu­ra­tion was at­tended by per­son­nel from the In­dian Armed Forces, State Po­lice, Coast­guard, Paramil­i­tary, the me­dia and dig­ni­taries from the In­dian Ad­min­is­tra­tive Ser­vice.

The joint ven­ture com­pany, Punj Lloyd Rak­sha Sys­tems (PLR) will be man­u­fac­tur­ing small arms for the In­dian de­fence forces and also for ex­port.

Speak­ing on the oc­ca­sion, Samy Kat­sav, Chair­man, SK Group said, “We are in­deed for­tu­nate to have in Punj Lloyd a re­li­able and knowl­edge­able part­ner. It is af­ter a lot of due dili­gence in the In­dian mar­ket that we iden­ti­fied Punj Lloyd for this part­ner­ship. Through this col­lab­o­ra­tion, we of­fer the com­bi­na­tion of bat­tle proven com­bat tech­nol­ogy of IWI and the pro­fi­ciency of a renowned In­dian busi­ness part­ner. I am ex­tremely up­beat about the op­por­tu­ni­ties in the sec­tor and con­fi­dent of con­tribut­ing to the ‘Make in In­dia’ pro­gramme.”

Punj Lloyd Chair­man Atul Punj said, “This is the first op­por­tu­nity for the coun­try to get its own ‘Made in In­dia’ small arms. The need of the hour is to re­place the coun­try’s de­fence weapons with so­phis­ti­cated and high pre­ci­sion prod­ucts and Punj Lloyd Rak­sha Sys­tems is the an­swer to the coun­try’s im­me­di­ate need.” Fur­ther Punj said, “These are tried and tested bat­tle proven prod­ucts al­ready be­ing used within the coun­try. It is the first time in In­dia that we are com­ing to­gether with the com­plete tech­nol­ogy to man­u­fac­ture these prod­ucts as ‘Made in In­dia’.”

Present on the oc­ca­sion, Michel Ben-Baruch, Head of SIBAT, Israel Min­istry of De­fence said, “Israel’s Min­istry of De­fense fully and whole­heart­edly sup­ports this co­op­er­a­tion and will con­tinue to sup­port the trans­fer of tech­nol­ogy and in­for­ma­tion also in the fu­ture, for the bet­ter­ment of im­proved ad­vanced tools. Israel and In­dia con­sider their de­fense in­dus­try co­op­er­a­tion as a mon­u­men­tal step for­ward, to­wards a fu­ture of im­mense po­ten­tial.”

Daniel Car­mon, Israel’s Am­bas­sador to In­dia said, “Now cel­e­brat­ing 25 years, In­dia and Israel’s grow­ing part­ner­ship is mul­ti­fac­eted and ever ex­pand­ing. The re­la­tion­ship is built on the strengths of each coun­try, con­tribut­ing to the se­cu­rity and pros­per­ity of both peo­ples. I ap­plaud the es­tab­lish­ment of joint co­op­er­a­tion ven­tures, such as be­tween Punj Lloyd and Israel Weapons In­dus­tries, tak­ing up Is­raeli Pres­i­dent Rivlin’s call for Israel to ‘Make in In­dia, Make with In­dia’. I hope to see many more such joint en­deav­ors rang­ing from se­cu­rity to food se­cu­rity, wa­ter to cy­ber, start-up to space.”

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.