&w=3840&q=100)
Reliance Defence, Rheinmetall AG to build major ammo unit in Maharashtra
"The new state-of-the-art facility will make a significant contribution to supplying the country's armed forces. The defence manufacturing complex will support India's ambitious defence export target of ₹50,000 crore by 2029," the Reliance Group said in a statement.
Rheinmetall AG, one of the world's largest defence firms, closed 2024 with revenues of €9.8 billion and operations across 171 locations globally. Known for advanced munitions such as the Assegai M2005 V-LAP and SMArt 155, the company will gain enhanced access to critical raw materials and benefit from improved supply chain resilience through this partnership.
'This strategic partnership brings cutting-edge capabilities to India, marking a transformational moment for the country's private defence manufacturing sector,' said Anil D Ambani, Founder and Chairman of Reliance Group. 'The project marks a major step in the Reliance Group's long-term strategy to invest in the fast-growing defence manufacturing sector.'
Massive greenfield facility in Ratnagiri
Reliance Defence will establish a greenfield manufacturing facility, fully owned by the company, in the Watad Industrial Area of Ratnagiri, Maharashtra. The plant is expected to become one of the largest of its kind in South Asia, with proposed annual production capacities of:
200,000 artillery shells
10,000 tonnes of explosives
2,000 tonnes of propellants
Armin Papperger, CEO of Rheinmetall AG, commented: 'This strategic partnership of Rheinmetall with Reliance Defence, led by Anil Ambani's Reliance Group, illustrates our strong commitment to partner with India.'
The collaboration supports Reliance Defence's ambition to become one of India's top three defence exporters. The new unit will be integrated into the Dhirubhai Ambani Defence City (DADC)—an upcoming comprehensive defence production complex in Ratnagiri. Once completed, it will represent the largest greenfield defence initiative undertaken by a private company in India.
Third major global tie-up for Reliance Defence
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
13 minutes ago
- Mint
Firing underperformers can boost your team's retention
Last week a post by Vedika Bhaia, a Mumbai-based co-founder of a marketing and branding start-up, blew up on LinkedIn. It began with a counter-intuitive remark that resonated with many on the professional networking platform: 'We fired 3 people in one month and our retention actually improved." Bhaia went on to explain that over the last year her agency saw an alarming rate of attrition in spite of paying competitive salaries, allowing flexible work hours, and giving out decent perks. Talent still kept quitting every month, until she decided to look deeper and lay off underperformers. Bhaia followed it up with changes in the culture and ethos of the company. She rented a physical office space instead of operating fully remotely and started offering hikes proactively rather than waiting for someone to fight for it. While none of her measures was novel, the first one isn't usually where most human resource executives start when they are looking to solve the problem of talent drain. That's largely because retention is correlated with transactional quick fixes. Most talent teams tend to offer carrots to entice an outgoing resource. From a salary hike and promotion, to softer touches like periodic office parties and offsites to create a feel-good factor, to public praise for individual excellence, a combination of these familiar levers is deployed during such exercises. It's not that these strategies are ineffective. But such actions can only arrest attrition in the short term—not 'solve" it in any meaningful way. In reality, the root of the problem often lies elsewhere—especially in the environment created by colleagues, be they seniors or peers, who have usually been part of the system for a long time. In the lead up to Vishal Sikka's resignation as the chief executive officer and managing director of Infosys in 2017, the company was riddled with complaints about a bloated middle management that was resistant to change and innovation. Frustrated, hordes of employees quit Infosys, especially once Sikka's departure became public knowledge. The company's overall attrition rate for the financial year 2017 was a staggering 19.2%. Rules of Engagement The 2025 State of the Global Workplace Report, published workplace advisory and consulting firm Gallup says ,'In 2024, the global percentage of engaged employees fell from 23% to 21%." A 2% dip in engagement cost the world economy a productivity loss of US$438 billion. If you look at employees who were not engaged or actively disengaged, the numbers are even more alarming. According to Gallup, such workers cost the world $8.8 trillion in lost productivity, which is equal to 9% of the global gross domestic product. These numbers are shocking not only as indicators of revenue loss, but also as proof of how much of a company's topline depends on the contribution of a minority of high performers. Behavioural research, cited by consultancy firms like McKinsey & Co., claim that high performers are 400-800% more productive than their average peers, especially if they work in complex domains like information technology. Any astute leader or manager would like to go the extra mile to retain stellar employees, but high-performing talent is not easy to spot. Often, they are the ones that make the least fuss when their manager over-delegates them. They will pick up slack for a colleague without much ado. Most of them are unlikely to talk to their manager even when they feel misaligned with the work assigned to them or demotivated by their role. As ace performers, they are trained in the art of self-restraint, keeping their heads down, and completing the task at hand. This hypothesis has been validated by research. As behavioural expert Diane Hamilton writes in a recent feature in Forbes: 'Unlike disengaged employees who may openly vent their frustrations, high performers tend to keep going until they no longer can. They often internalize stress, mask dissatisfaction with productivity, and remain outwardly professional until the day they resign." Act of Courage When a top talent leaves the system, an organisation suffers losses at multiple levels: not only financially, but also in terms of losing out on expert knowledge and a 'can-do' attitude. A high-performer's exit can erode the morale of colleagues, especially those who looked up to them, which may lead to even more attrition of talent and start a domino effect. As Bhaia's example shows, it takes more than cosmetic tweaks to improve the health of your company. True leadership lies in your ability to see the toxic behaviours hiding in plain sight and then have the courage to root them out for good—even if it means getting rid of a CXO-level hire you've made at a steep cost. Instead of coming up with reactive strategies to stop your best talent from leaving, it is key to have more proactive check-ins, listen to what they are not saying, and notice more than what meets the eye. Don't be blindsided by the person who has most to say during meetings. Hold space for the troopers and workhorses, who keep the home fires burning. Work Vibes is a fortnightly column on ideas to help you thrive at what you do.
Time of India
an hour ago
- Time of India
CBI to investigate irregularities in ASI epigraphy project
HYDERABAD: Archaeological Survey of India (ASI) has formally written to Central Bureau of Investigation (CBI), Bengaluru unit, requesting a probe into alleged irregularities involving several public servants in connection with the digitisation of estampages at the epigraphy branch in Mysuru. The letter, dated July 11 and signed by ASI additional director general and chief vigilance officer Madhukar, lists a series of issues that were flagged for investigation following internal findings and a prior vigilance inquiry. ASI noted that with the approval of the competent authority, the matter was now being referred to CBI for further action under Section 17-A of the Prevention of Corruption Act, 2018. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Specific issues flagged include assigning buyer and consignee duties to unauthorised personnel, placing repeated purchase orders to Hirachi Enterprises, and reimbursing 2.4 lakh to four officials for direct purchases made outside the standard procedures. ASI noted that plywood worth 1.65 lakh was procured to house camera equipment used in digitisation work, and accommodations rented for official purposes were used to carry out the digitisation activity. Another concern raised pertains to the private agency, Dronacharya Seva Sansthan, allegedly failing to deposit EPF contributions of labourers engaged in project, even as payments were released to agency without verification. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A genetic disorder that is damaging his organs. Help my son Donate For Health Donate Now Undo The sequence of events dates back to 2022 when a Telangana-based photojournalist, D Ravinder Reddy, approached the HC over the cancellation of a work order related to the digitisation of nearly one lakh estampages - manual paper copies of inscriptions - stored at ASI's epigraphy branch in Mysuru. Norms flouted to favour foreign firm: HC According to court proceedings, ASI had initially floated a tender on the GeM platform for a project valued at 1.5 crore. Ravinder Reddy, who has over three decades of experience in photo documentation, emerged as the lowest bidder and was invited to Mysuru for a demonstration. However, the tender was cancelled, and the contract was later awarded to a Netherlands-based firm, PIQL, at an cost of 5.61 crore. The HC set aside ASI's revised work order and directed that the contract be awarded to the next eligible bidder. The HC observed that norms were flouted to favour the foreign firm. Following the verdict, several officials from ASI were transferred amid suspicion of irregularities, and an internal vigilance probe was ordered.
Time of India
an hour ago
- Time of India
Spunweb Nonwoven set to debut on NSE SME. GMP hints at healthy listing
Spunweb Nonwoven is set to debut on the NSE SME platform on Monday after closing its Rs 60.98 crore IPO with massive investor interest. The company, which manufactures spunbond nonwoven fabrics used across hygiene, medical, agriculture, and packaging sectors, saw its issue subscribed an extraordinary 251.32 times overall, with retail investors bidding 251.84 times, non-institutional investors 364.58 times, and QIBs 165.43 times. Priced at Rs 96 per share, the IPO was a fresh issue of 63.52 lakh shares. The strong demand from investors has propelled the stock's grey market premium to around 45% ahead of listing, hinting at a robust debut despite broader market volatility. Explore courses from Top Institutes in Select a Course Category healthcare Operations Management Data Science Design Thinking Degree others Cybersecurity MCA Artificial Intelligence Leadership Data Analytics Finance MBA CXO Product Management Technology PGDM Healthcare Others Data Science Digital Marketing Project Management Management Public Policy Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details Anchor investors had already backed the offer with a Rs 17.31 crore commitment prior to the opening. In terms of financials, the Rajkot-based company posted a 47% jump in revenue and nearly doubled its profit in FY25. It serves clients across sectors including hygiene, healthcare, and industrial applications, and exports to more than 10 countries. With a scalable business model, strategic global ties, and a focus on value-added fabric solutions, Spunweb Nonwoven is now positioning itself for expansion. Live Events While valuations appear stretched post-listing, the first-mover advantage in a niche market, high capacity utilization, and global customer base may offer long-term tailwinds for the company. All eyes will now be on its market debut and how it sustains investor expectations beyond the initial pop. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
