More and more Indian steel manufacturers are foraying into the defence manufacturing sector. Essar Steel, for example, is the first Indian bigwig to supply special-grade steel to support operations for land and naval defence system of the country. Besides, Jindal Stainless Steel recently announced that it’s going to provide steel for India’s defence use under an agreement signed with Defence Research & Development Organisation (DRDO).
In the last few years, India’s defence industry has seen more players, like Essar and Jindal getting into the gameplay, contributing to the exponential growth share of the country. As a result, the stakes became pretty high. One estimate even points that the expected expenditure incurred by the defence sector is likely to cross $200 billion mark in the next five years.
Baraghata Industrial Area, Gwalior, MP, India
A 39 Anand Nagar, Gwalior, MP, India
