Overview

• Reliance Defence and US Department of Defense-authorized Coastal Mechanics will set up a joint venture at the Multi-modal International Cargo Hub and Airport at Nagpur to serve domestic and export markets.
• The partnership targets India’s ₹20,000-crore defence maintenance, repair, overhaul and upgrade market for platforms including Jaguar and MiG-29 fighters, Apache helicopters and L-70 air defence guns.
• The deal aligns with the armed forces’ shift from replacing ageing equipment to performance-based logistics and lifecycle extension of legacy systems.
• Reliance Defence aims to leverage the collaboration to become one of India’s top three defence exporters and advance Make in India and Aatmanirbhar Bharat objectives.
• Shares of Reliance Infrastructure rebounded in late trade on Monday after the strategic announcement by its defence arm.