Anil Ambani to invest Rs 5,000 cr more in Pipavav Shipyard
Promoting the Pipavav Shipyard as being a one-stop shop for all of the Indian Navy's requirements, from the constructions of frigates to aircraft carriers and submarines, industrialist Anil Ambani said on Thursday that he would invest an "additional Rs 5,000 crore" into the project over the course of the next few years.business Updated: Jul 17, 2015 00:09 IST
Promoting the Pipavav Shipyard as being a one-stop shop for all of the Indian Navy's requirements, from the constructions of frigates to aircraft carriers and submarines, industrialist Anil Ambani said on Thursday that he would invest an "additional Rs 5,000 crore" into the project over the course of the next few years.
The Reliance Group Chairman emphasised on self-reliance in the defence sector for flexibility to pursue country's foreign policy objectives and called for more transparent and predictable systems and procedures.
"Transparent, fair procedures and processes create a favourable climate, encourage competitiveness and eventually deliver the best overall value for the country," he said.
Ambani added that specific measures towards ease of doing business will encourage industry participation to boost confidence of the private sector in the new 'Make in India' initiative.
"This is necessary as the Ministry of Defence is the sole domestic customer," he said. Addressing a gathering of top defence officials and industry leaders, he said Reliance Group's "acquisition of Pipavav Defence Company in Gujarat with assets worth more than Rs 10,000 crore" was their contribution towards self-reliance.
"We will invest an additional Rs 5,000 crore over the next few years as part of our commitment towards indigenisation efforts," Ambani said at the seminar on indigenisation organised by the Navy and CII.
He underscored the fact that Pipavav has the largest dry dock in the country, which is the second largest in the world.
With more than 30 lakh square feet of covered area for fabrication and integration alone, this is perhaps the largest single location defence manufacturing facility in India, he said.
"We are committed to making it a Global Centre of Excellence in ship building. This facility will be capable of delivering all requirements of the Indian Navy from frigates to aircraft carrier to submarines," he said.
Pointing out that indigenisation brings along with it transfer of technology and industrialisation, Ambani said these provide skill development, employment and also contribute to intellectual capital.
Stressing that the Reliance Group will equip country's armed forces with the best technology, weapons and equipment, all Made in India, he said it was heartening to see a paradigm shift in country's approach to achieving this.
First Published: Jul 16, 2015 17:40 IST