Larsen & Toubro

Larsen & Toubro Sees $28 Billion Golden Goose In India’s Defense Orders

This video shows you that Larsen & Toubro Sees $28 Billion Golden Goose In India’s Defense Orders. Fresh from winning its biggest defense contract in May, Larsen & Toubro Ltd. is planning to bid for $28 billion of orders including warships and submarines in India as Prime Minister Narendra Modi breaks with tradition to embrace private, local suppliers. India’s new defense purchase policy that allows non-state local firms to compete for orders from the military is helping the nation’s biggest engineering firm to become more ambitious, Jayant Patil, head of Larsen’s defense business, said in an interview. The company is building on its success with a $700 million order for artillery guns in May, unprecedented in size for a local contractor, he said. Modi’s ‘Make in India’ program to reduce reliance on imports has opened business prospects worth billions of dollars for companies such as Mumbai-based Larsen, which were earlier shunned by the government in favor of state-owned and foreign firms. Larsen is looking to bid for 1.8 trillion rupees ($28 billion) of orders over the next three years, or almost half of the projects Modi has approved since coming to power in 2014. “What we have done over the last 30 years is going to get us into the real big league now,” Patil said. “It is going to be a golden goose.” Larsen, which started setting up facilities to make defense equipment 30 years ago, may be benefiting from an early mover advantage in a market that saw the arrival of competitors over the years since. Billionaire Anil Ambani’s warship builder Reliance Defence and Engineering Ltd., and conglomerates including the Tata Group and Mahindra& Mahindra Ltd. are also seeking a slice of the contracts. Not Ready But, challenges abound for private contractors in India. The local defense industry remains nascent and the country still depends on foreign manufacturers for sophisticated systems like fighter jets. Although Modi modified the policy, making it mandatory to source locally if the products are available, lack of infrastructure and the military’s preference for imports effectively narrows the share of the market. “India’s defense industry is probably not yet ready for large scale production in the coming two years because it has yet to ramp up experience and build credibility,” said Nikkie Lu, a Hong Kong-based analyst at Bloomberg Intelligence. “Emerging winners are likely those with deep pockets for bidding and research.” defence news, essay on make in india, india fighter jets, indian air force, indian air force planes, indian fighter, indian fighter jet, indian fighter planes, indian navy submarines, indian submarines, ins arihant, make in india, make in india campaign, make in india essay, make in india in hindi, make in india policy, make in india project, make in india website, make in india week, making india, mig 29k, teja, tejas, tejas aircraft ====================================================================================================== DISCLAIMER: Each and every content used in this video is not imaginary. All are taken from reputed news agencies. This video doesn’t meant to hurt anybody's personal feelings,beliefs and religion. We are not responsible for any of these statements used in this video. If you have any suggestion or query regarding this video, you can contact me on YouTube personal Message and you can send me message in my Facebook page. Thank you & regards Global conflicts ====================================================================================================== Channel Link: https://www.youtube.com/c/Globalconflict7 Facebook: https://www.facebook.com/GlobalConflict7/ Fan Page: https://www.facebook.com/globalconflict/ Twitter: https://twitter.com/Gl0balC0nflict ====================================================================================================== EDM Detection Mode by Kevin MacLeod is licensed under a Creative Commons Attribution licence (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1500026 Artist: http://incompetech.com/