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Anil Ambani steps into defence sector, raises 11 new companies


Anil Ambani has made his strongest step into the defence industry, has created a group of companies and applied for over a dozen licences in the past weeks to design, develop and manufacture the military equipments ranging from UAVs and spacecraft to submarine systems.

Focusing on defence, the Reliance Defence Limited has raised 11 new companies and each of them targets a potential market of at least Rs 10,000 crore.

The executives of these companies will be used as joint venture partners with foreign manufacturers or for the licence production of equipment. It is also panning to export defence products from India.

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