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The Army is to upgrade its entire infantry combat vehicle (ICV) fleet in an effort to enhance its capability, Defence Minister A.K. Antony said recently.
In the ICV fleet, armament and firepower capability are being upgraded with the latest fire control system, twin missile launchers and thermal imaging. These ICVs will also be equipped with the latest generation anti tank guided missiles and automatic grenade launchers.
Antony told Parliament the ICV proposal for the armament upgrade would cost around Rs 8,000 crore.
FDI approvals
On Tuesday, the Government announced that it had approved 17 proposals of foreign direct investment (FDI) amounting to about Rs 262.6 crore. Of these, two belonged to the defence industry.
The Government has cleared Amertec Systems’ induction of foreign equity, with an FDI inflow of Rs 50 lakh. The induction is aimed at carrying out the manufacturing of advanced electronic systems, test systems, simulators and electronic systems for military applications.
Amertec Systems was founded in 2011, as a joint venture between Amtek Auto Ltd (India) and Enertec Systems (Israel).
The company gets technology from Israel and receives full operational support in India. Amertec carries out programmes for leading global defense companies.
The company says it is a global supplier of electronic systems and a partner for local integration and maintenance of large-scale projects with the defense, transportation and industrial automation sectors.
Meanwhile, the Government also cleared Pipavav Defence and Offshore Engineering Company’s issuance of shares to an identified foreign investor, though it did not name the investor.
A defence sector company, with a 26 per cent foreign equity participation, Pipavav Defence had earlier said that it was in advanced stages of discussions with French defence firm DCNS, for a strategic partnership, which could include it selling some stake.
DCNS is a warship and submarine builder. The strategic partnership was to allow for the transfer of technologies to Pipavav Defence. Last June, the Indian company had said it was looking to bring the French company’s technologies to the country. DCNS’ product portfolio includes the Scorpene submarine.
However, the Government deferred another defence proposal.
New Delhi-based Dewsoft Fabrication Private Ltd, a defence sector company, wanted to transfer 26 per cent holding to a foreign company, against a technology transfer fee payable to the foreign company, which was deferred by the Government.
>amritanair.ghaswalla@thehindu.co.in
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