on WednesdayThe company relies on indigenous research and is into technology transfer and licence agreements to manufacture its products. In addition, it has entered into 13 commercial joint ventures to grow business operations. India has the third largest military in the world and is the sixth largest spender on defence. "Defence is a very very interesting space and investors got a little carried away when this Make in India for defence started. But one must remember that a defence project takes quite a lot of time in delivering revenue and profit.

Source: Economic Times March 28, 2018 04:25 UTC