South African defence equipment maker Paramount Group wants to do more manufacturing in India. This is a big boost for the Modi government’s “Make in India” campaign.
The Paramount Group is talking with India’s Kalyani Group about expanding its business there. The two groups want to make modified M4 armoured vehicles for use in India.
The M4 vehicles have a high level of protection against bullets and explosions. They can withstand 50 kg of Trinitroluene (TNT), homemade bombs, and roadside bombs. The M4 can carry up to 2.3 tonnes of weight and has room for up to eight soldiers. The armoured vehicle can go as fast as 140km/h and has a range of up to 800km. which is part of the Kalyani Group, is putting Israeli Spike anti-tank guided missiles on the vehicle right now.
Ivor Ichikowitz, the founder of Paramount Group, told the publication that there was a huge demand for their product and that they planned to work together even more to make more. At the moment, the Kalyani M4 is made at the company’s factory in Pune.
At DefExpo 2022, which just ended, Kalyani Group also said it planned to build the world’s largest artillery factory in the country, where it would make one gun every day. At the moment, it takes the company 30 days to make six guns.
Under the Make in India plan, companies from other countries are thinking about how to make their products indefe India. Lockheed Martin, a company based in the US, has said that if the Indian Air Force (IAF) chooses its F-21 fighter jet in the multi-role combat aircraft tender, the company will set up a production line for the plane in India.
Some foreign defence companies have already made deals to start making things in India. For example, Rosoboronexport just made a deal at DefExpo 2022 to start making its AK-203 assault rifle by the end of the year. The making is likely to happen at the Korwa Ordnance Factory in Amethi, Uttar Pradesh.
Saab Defence, which is based in Sweden, will also open a factory in India in 2024 to make its popular Carl-Gustaf M4 multi-role weapon system.
India buys more defence goods than any other country in the world. At the moment, the country is cutting down on the number of things it imports by giving foreign companies incentives to “Make in India.”