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Reliance Defence plans ₹10,000-cr aerospace push, eyes 2028 jet launch

Anil Ambani-led Reliance Defence Ltd is making a major push into the aerospace sector with a ₹10,000-crore investment planned over the next decade. The company aims to manufacture India's first homegrown commercial aircraft by 2028, Mint reported. Reliance Defence, which handles the aviation and munitions business of Reliance Infrastructure Ltd, will partly fund the investment through capital raised by Reliance Infra. The parent company plans to secure ₹17,600 crore via preferential share placements, sales to institutional investors, and foreign currency bonds. It also hopes to monetise nine of its road projects, the news report said. 'That's the kind of roadmap we have ahead of us to be a global player. So five years from today, I think we would be in a position where we would be an integral part of the global aerospace domain,' said Rajesh Dhingra, MD and CEO of Reliance Defence, in an interview with Mint. 'Made in India' falcon jets Reliance Aerostructure Ltd, a subsidiary of Reliance Defence, is assembling Dassault Aviation's Falcon 2000 jets in Nagpur through a joint venture — Dassault Reliance Aerospace Ltd (DRAL). The venture, with a 51.49 ownership split, marks the first time Dassault is manufacturing aircraft outside France. As part of the agreement, the existing joint venture between the partners — Dassault Reliance Aerospace Ltd (DRAL) — will set up a cutting-edge final assembly line for the Falcon 2000 aircraft at MIHAN in Nagpur, Maharashtra. In addition, DRAL will be upgraded to function as a global Centre of Excellence (CoE) for all Falcon models, including the ultra-long-range Falcon 6X and the three-engine Falcon 8X. In a joint statement, the companies said, 'Dassault Aviation will manufacture Falcon 2000 jets outside of France for the first time in its storied history. This pioneering initiative will see India emerge as a strategic centre for high-end business jet manufacturing'. Strategic global partnerships Reliance Defence is also working with French avionics giant Thales SA in another joint venture — Thales Reliance Defence Systems. The venture supports Thales in upgrading aircraft like the Mirage 2000 and in setting up logistics hubs for Rafale bases, the news report said. With defence production expected to rise to ₹3 trillion by 2028-29, Indian firms like Tata, Mahindra, and Bharat Forge are also investing in aerospace. Though Reliance Defence has yet to win Indian defence contracts, it is working with HAL and Genesis Aerosystems to upgrade Dornier aircraft. After upgrading 37 planes, it has orders for 18 more and expects further contracts covering over 800 legacy defence aircraft and helicopters.