MALANPUR (MADHYA PRADESH): Strengthening defence ties, India today opened its first private small arms manufacturing plant at Malanpur, Madhya Pradesh in a joint venture with Israel The plant has been setup as a joint venture -- Punj Lloyd Raksha Systems -- between Indian defence conglomerate Punj Lloyd and Israel Weapons Industries (IWI). The IWI is a member of the SK Group.Although Ashok Wadhawan, President-Manufacturing Business, Punj Lloyd explained that the "finish product" will not be for export. Punj Lloyd has invested Rs 350 crore in defence since 2009, including this facility.Dr. Raghuwanshi, Associate Vice President-Defence Manufacturing & Systems Integration Division, Punj Lloyd, said two major components- the "receiver" and "bolt"- of the guns will be made here. The need of the hour is to replace the country's defence weapons with sophisticated products."

Source: Economic Times May 04, 2017 12:22 UTC