A UP-based private firm has launched state-of-the-art armoured vehicles that will help it tackle grave threats like Naxalism and terrorism.
Shri Lakshmi Cotsyn Limited (SLCL), a diversified group engaged in manufacturing safety textiles for defence and paramilitary forces, on Sunday launched its much-awaited complete 360 degree armoured defense vehicles for Indian armed forces.
"Our high-end 360 degree armoured vehicle will aid security forces counter threat and enhance combat efficiency," MP Agarwal, Chief Managing Director of Shri Lakshmi Cotsyns, told PTI.
"We see significant growth opportunities in the domestic as well as global defence market. We expect to fetch large orders for our 360 degree protection armoured vehicle from Indian defence," Agarwal said.
Finance Minister Pranab Mukherjee has allocated USD 28 billion for defence in the last budget which is the highest ever allocation for the sector so far.
"It is a logical move to be part of the Indian government's efforts to broad-base defence procurement from the private sector," he said.