The Tata group is looking for strategic acquisitions to ramp up its defence portfolio as it seeks a larger share in the country’s defence procurement market, currently pegged at over $15 billion.
While the Tata group forayed into the Indian defense manufacturing sector way back in 1975 through its subsidiary Tata Power SED, the group’s revenue share from defense related manufacturing is currently at R2,650 crore . But for Indian companies engaged in defense production the domestic defense market, remains heavily lopsided with imports accounting for around 70% of total sales.
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