JSW Group enters defense sector; Establishes new business for domestic, overseas markets

Indian conglomerate JSW Group on Thursday announced its strategic entry into the defense sector with the setting up of a new business vertical. The company will focus on both domestic and overseas markets.

JSW Defense & Aerospace (JSW Defence) will not only supply state-of-the-art equipment to the Indian Armed Forces, but also aim to establish itself as a major player on the global stage and contribute to India’s ambition of becoming a $5 billion defense Intends. export economy, the company said.

It said JSW Defence, in its first venture, has acquired a majority stake in Gecko Motors Pvt Ltd, an extreme off-road vehicle company, which has now been renamed JSW Gecko Motors Pvt Ltd (JSW Gecko).

The company promoted by its founders led by Jaskirat Singh Nagra has received an order worth Rs 250 crore from the Defense Ministry for the supply of 96 specialist mobility vehicles (SMVs) branded as ATOR N1200.

ATOR N1200 SHERP is an indigenous version of the N1200 amphibious extreme mobility vehicle, designed by UK-based Copato Limited.

JSW Group said in a statement that Copato has signed a technology supply license agreement for the manufacturing of specialist mobility vehicles in India as well as a joint venture with JSW Defense and JSW Gecko with a view to making the country a global production hub for this product. Have compromised. statement.

“At USD 73.8 billion, India’s defense budget as a country is huge. The Indian defense budget is likely to increase to US$200 billion. Capital outlay is a very large part of the defense budget and this is where we see a big opportunity in JSW,” said Parth Jindal of JSW Group.

JSW Group is known for bringing world-class products and services to India and “we would like to extend the same ethos to the defense sector as well”, he said.

“Furthermore, JSW Group’s entry into the defense business reflects the Government of India’s confidence in providing incentives through private sector participation in building indigenous defense capabilities,” Jindal said.

“In line with our strategy, our first product, the ATOR N1200 specialist mobility vehicle, being manufactured for the Indian Army is an Indian adaptation of the amphibious all-terrain Sherap N1200,” he said.

Jindal said the vehicle is designed to navigate all types of terrain in extreme weather conditions and has performed well in applications ranging from the dry desert of Rajasthan to the twisting creeks and muddy terrains of Bhuj and Rann of Kutch to suburban areas. Has proved its capability even in hilly areas. -Zero temperature.

“ATOR will provide significant benefits to the Indian Army in its operations,” he said.

Jindal said JSW Defense will endeavor to fill the “capability gap” of the Indian armed forces and bring specific technologies to partner with troops in the battle line.

“We saw a huge opportunity for extreme mobility vehicles in the Indian market,” said Jaskirat Singh Nagra. He said, “We were very keen to have a strategic partner that can help us grow our business as well as support our R&D efforts to design and develop new extreme mobility products for India and the world. “

JSW Defense has appointed Commodore Madhu Gentela (Retd), a former naval officer with over 30 years of experience in military technology, to lead the group’s defense business.

(With PTI inputs)