Brazil’s firearms manufacturer Taurus Armas has signed an agreement with Indian company Jindal Defence to produce small arms.
Under the agreement, the companies will form a new joint venture (JV) company at Hisar in the Indian state of Haryana to produce different kinds of firearms.
The JV company will manufacture carbine, assault rifle, pistols and revolver in the country.
Jindal will hold a 51% stake in the JV and the remaining 49% stake will be owned by Taurus.
PTI quoted Jindal Group as saying in a statement: “The JV company will manufacture small arms in India based on the transfer of technology from Taurus to achieve localisation of production in accordance with the defence procurement procedures.”
The company noted that the partnership between Taurus and Jindal is aimed at increasing existing domestic opportunities in the small arms manufacturing sector.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
It will offer significant support to the ongoing and future modernisation plans of the Indian Armed Forces, particularly the army, para-military, and state police forces.
Jindal Defence promoter Abhyuday Jindal told media sources: “To further strengthen the make in India vision, our collaboration with Taurus Armas will support self-reliance in strategic small arms manufacturing.
“The JV envisages creation of world-class infrastructure along with adoption of best manufacturing practices to achieve perfection in design and engineering, and achieve high quality standards.”
Furthermore, the partnership aligns with the Indian Government’s vision of participation by greater private sector in defence hardware manufacturing.
Last month, Taurus USA opened its 200,000ft² manufacturing centre and corporate headquarters in Georgia.