Indian companies bidding for an order for new air defence guns for the air force valued at over Rs 15,000 crore have put their best foot forward as the larger picture shows that orders worth Rs 40,000 crore are at stake for similar requirements of the Army and Navy.
At least five Indian companies, including Bharat ForgeNSE -1.84 %, RelianceNSE -1.02 %, Tata and L&T are in the fray for the contract by the air force to purchase new age close in weapon systems for protection of airfields and other key assets. The state run Ordnance Factory Board (OFB) has also put in a bid.
While the air force is looking to buy 61 flights of the systems, only 18 of which can be delivered directly from a foreign partner, the air defence programs of the Army and Navy are even bigger in value. Read More