Reliance Defence, Thales announce intention to enter into joint venture

Tribune News Service

New Delhi, June 21

Amid an intense race to strike partnerships in the Indian defence manufacturing sector, French electronics major Thales and Reliance Defence Limited on Wednesday announced their intention to form a Indian Joint Venture (JV), with proposed shareholding of 49 per cent and 51 per cent respectively.

Leveraging Thales offset commitment as part of Rafale contract, the JV is to develop Indian capabilities to integrate and maintain radar and electronic warfare sensors.

The JV will develop skills and activity in the Special Economic Zone of Mihan-Nagpur together with an Indian supply chain for the manufacturing of microwave technologies and high performance airborne electronics, a Reliance Defence release said.

Set up with a long-term strategy to serve the Indian needs, this partnership between Thales and Reliance Defence Limited will strengthen Prime Minister Narendra Modi’s “Make in India” vision.

“We are delighted to seal this strategic collaboration with Reliance Defence Limited. This JV resonates with our strategy to strengthen our industrial footprint in the country by building collaborations with the Indian industry. It reaffirms our commitment to India, and our active contribution to “Make in India”, Thales chairman and CEO Patrice Caine said.

On his part, Chairman Reliance Group Anil Ambani said: “The Strategic Partnership with global leader Thales is another major milestone in our march towards best in the class manufacturing at support facilities for military hardware in India. Reliance is committed to ‘Make in India’ and ‘Skill India’ initiatives of the government and will continue to remain in the forefront, partnering with the best in the World.”

Thales is a global technology leader for the Aerospace, Transport, Defence and Security market and Thales India is here since 1953 paying a role in the country’s growth sharing expertise in defence, transport and aerospace market.

Reliance Group, led by chairman Anil Ambani, is among India’s top 5 business houses, with a leadership position in telecommunications, power, infrastructure, financial services, and media and entertainment.