Announcing the tie-up during the ongoing DefExpo, organised by the Defence ministry at Thiruvadanthai, about 40 km from here, Adani Defence and Aerospace Head Ashish Rajvanshi, said the tripartite agreement would leverage on the strengths of the three companies.
Declining to elaborate about the partnership, he said "we are collaborating together to manufacture high-end aerospace gears in India."
The companies would evaluate options of floating a new company under the agreement over the coming months, he said.
"The collaboration intends to manufacture gears and gear assemblies mainly for rotary platforms, currently under production in India," Rajvanshi told reporters.
"The agreement furthers the indigenisation agenda under Make in India programme and will bring state-of-the-art technology to the country," he said.
"We at Rave are excited at the immense potential that offers from this collaboration," he said.
Punj Lloyd, Manufacturing Business President, Ashok Wadhawan, said the collaboration will enable India achieve indigenisation in one of the most critical components in rotary platforms.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)