Reliance Defence seeks licence for equipment mfg in SEZs

Image
Press Trust of India New Delhi
Last Updated : Apr 21 2016 | 10:42 PM IST
Reliance Defence has sought the Commerce Ministry's approval to manufacture defence equipment at its special economic zones (SEZs) in Maharashtra and Madhya Pradesh.
"The proposals of Reliance Defence Ltd for grant of industrial licences for manufacturing of defence products...Is placed before the BoA for a decision," the Commerce Ministry said in a note.
An inter-ministerial Board of Approval (BoA), chaired by Commerce Secretary Rita Teaotia, will consider these requests on April 28.
Different arms of the Reliance Defence Ltd, including Reliance SED Ltd and Reliance Land Systems, have sought industrial licences to manufacture different items like amphibious vehicles for military use, all types of ammunition and fuses, small arms, heavy weapons and electronic warfare systems.
Its two SEZ units are in Pithampur, Dhar (Madhya Pradesh) and Mihan, Nagpur (Maharashtra).
In its comments, the Department of Defence Production has recommended these proposals, subject to standard terms and conditions of licensing and the extant FDI policy guidelines applicable to the defence sector.
Maharashtra government has also recommended the proposals but has put conditions like 80 per cent of recruitment to be done locally, the agenda note said.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Apr 21 2016 | 10:42 PM IST

Next Story