In a significant boost to India’s self-reliance in key defence technologies, MET City, a wholly-owned subsidiary of Reliance Industries Limited, announced the establishment of Saab’s first manufacturing facility for the well-known Carl-Gustaf Weapon System in India.
The signing of the agreement, which was held in Haryana on Monday, marks a historic moment as Saab FFVO India initiates the construction of this pivotal manufacturing plant.
This partnership signifies India’s first 100% Foreign Direct Investment (FDI) in defence, a landmark achievement in advancing the country’s defence sector under the “Make in India” initiative.
Saab, a renowned Swedish defence major with a diverse portfolio of defence products, brings its expertise to India through this collaboration.
The decision to establish the manufacturing plant in Reliance MET City underscores the strategic location, robust infrastructure, and availability of skilled manpower, making it an ideal choice for Saab’s expansion endeavours.
Expressing his appreciation for this milestone, Mats Palmberg, Chairman & Managing Director of Saab India Technologies and Member of the Board of Directors of Saab FFVO India, highlighted the company’s commitment to the “Make in India” initiative and collaboration with the Indian Defence Forces.
“We are deeply honoured to be the first global defence company to secure approval for 100% foreign direct investment in India. Partnering with Reliance MET City to establish our manufacturing plant in India underscores our strong commitment to the ‘Make in India’ initiative and our close collaboration with the Indian Defence Forces,” said Palmberg.
Echoing the sentiment of progress and collaboration, SV Goyal, CEO & Whole Time Director of MET City, expressed his excitement about welcoming Saab to the MET City.
“With Saab as India’s first 100% FDI approved defence manufacturer, MET City is poised to become a preferred location for global companies. Our Plug-n-Play infrastructure, IGBC Platinum rated certification, and diverse ecosystem of companies from 9 different countries solidify MET City’s position as a premier business destination,” Goyal affirmed.
