homebusiness NewsWe need long term defence contracts: Baba N. Kalyani says as KRAS rolls out 100th missile kit
business | Dec 13, 2022 9:24 PM IST

We need long-term defence contracts: Baba N. Kalyani says as KRAS rolls out 100th missile kit

Mini

Kalyani Rafael Advanced Systems Pvt Ltd (KRAS) recently rolled out the 100th medium range surface-to-air missile kit for delivery to the Indian Armed Forces. The mid-section will form part of the BARAK-8 missile, a long-range and medium-range surface-to-air missile system designed for both land-based and maritime installation.

Kalyani Rafael Advanced Systems Pvt Ltd (KRAS) recently rolled out the 100th medium range surface-to-air missile kit for delivery to the Indian Armed Forces. Speaking on the occasion, Baba N. Kalyani, Chairman and Managing Director of Bharat Forge Ltd, said. “A time will come when will be able to build and design our own indigenous missiles of different types.”

Recommended Articles

View All

"This delivery reinforces our commitment to Atmanirbhar Bharat as envisioned by our Prime Minister Narendra Modi," Kalyani said. The government expects the Indian defence industry to be worth around $25 billion, with $5 billion exports.
However, for business to grow, the government has to think in terms of long-term defence contracts
. "If we look at US and the latest fighter jet F-35, it's a 15-year contract. Because of that, they're able to do more research, produce better versions, develop more tech. If you give a two-year contract, all this won't happen," Kalyani pointed out.
That's the change differentiator, the Railways has started doing it, surely defence sector will also start doing long-term contracts, he added.
On growth plans, he said convergence of partners like Rafael, DRDO and the Indian Air Force helps create competent and capable defence infrastructure.
Apart from the missile kits, KRAS will extend support in the maintenance and repair operations of in-service air defence missile systems to the Armed Forces, Kalyani said.
KRAS has an order of about 1000 mid-sections valued at about $100 million. The mid-section will form part of the BARAK-8 missile, a long-range and medium-range surface-to-air missile system designed for both land-based and maritime installation. The kit is part of the MRSAM Air Defence Missile jointly developed by Rafael Advanced Defence Systems Ltd and DRDO and manufactured in collaboration with Indian industry comprising both private and public sector players including MSMEs.
Watch the video for more.
 
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng