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Defence major Thales and the Kalyani Group have finalised a new collaboration to manufacture next generation weapons systems for India.
The two companies have inked an agreement for the joint venture.
"Kalyani Group and Thales have formalised a new collaboration for the design, development and manufacture of next generation weapons systems for the defence and law enforcement sectors in India and abroad," the two companies said in a joint statement.
It added that the collaboration would leverage Thales's more than 100 years of experience in the design, development and manufacture of the world's leading defence systems.
The agreement was signed by MKK Iyer, vice president (Defence), Kalyani Group, and Emmanuel de Roquefeuil, VP and country director India, Thales.
"We are very excited to enter the military weapon systems segment. This alliance will combine Thales's advance technology, knowledge and experience as an OEM with world class design, development and manufacturing capabilities of the Kalyani Group," Rajinder Singh Bhatia, president and CEO (Defence and Aerospace) of the Kalyani Group, said.
"Our cooperation aims to provide indigenously manufactured solutions for both the Indian and international markets, thereby furthering the Make in India initiative of the government," he added.
Kevin Wall, VP (vehicles and tactical systems), Thales, said his company was pleased to bring high-end technology from Australia and work in close collaboration with the Kalyani Group for the design and development of next generation defence systems, including variants of the F90 assault rifle.
"This new collaboration will help us serve India as well as international markets. This partnership is the result of our ambition to support soldiers on operations with next generation, cutting-edge technology and reaffirms our commitment to India," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)