Defence sector will be the largest business area for Reliance Infra in the next few years, its chairman Anil Ambani has said, seeing opportunities worth Rs 1 lakh crore per annum in acquisitions for the armed forces.
Ambani said the Group’s focus will be to become a leading manufacturer and supplier of advanced weapon platforms and military hardware to meet the requirements of the Navy, Indian Air Force and the Army and also mark the company’s presence across the world.
Briefing over 80 analysts last evening about future plans of his group in the defence sector, the industrialist said there is a huge opportunity for private sector in the defence business as currently India imports 70 per cent of its requirement (in value terms) and accounted for 14 per cent of the global defence imports in 2016.