In a key development for India`s defence manufacturing capabilities, the Government of Maharashtra has formalised an agreement with Tembo Defence Products Pvt Ltd, a subsidiary of Tembo Global Industries Limited during the World Economic Forum held in Davos, ANI reported.
As per Tembo Defence Products, the agreement involves a substantial investment of Rs 1,000 crore, aimed at strengthening the state`s defence sector. This strategic move is expected to generate 300 new job opportunities, to further mark Maharashtra`s position as a significant hub for defence manufacturing.
The signing ceremony was attended by Maharashtra CM Devendra Fadnavis, who showed his support for the initiative, and Shabbir Merchant, Director of Tembo Global Industries Ltd, ANI reported.
This partnership will not only contribute to the nation`s defence infrastructure but will also restore local economies by generating employment and advancing technology.
According to ANI, another significant milestone for Tembo Global Industries, Tembo Defence Products has been invited to showcase its cutting-edge defence technologies at the World Economic Forum in Switzerland`s Davos.
This invitation shows the growing international recognition of the company`s capabilities and its role in advancing global defense solutions, ANI reported.
Sanjay J Patel, Managing Director of Tembo Global Industries Limited, shared his thoughts on the development and said, “We are excited to partner with the Government of Maharashtra in this landmark initiative. This Rs1,000 crore investment will not only enhance our defense manufacturing capabilities but will also create a substantial number of employment opportunities in the region.”
He added, “Our participation in the World Economic Forum in Davos highlights the global recognition of Tembo Defence Products and the important contributions we are making to strengthen India`s defense sector. We are fully committed to providing innovative, world-class solutions that serve the needs of our armed forces and contribute to national security,” ANI cited.
The partnership between Tembo Global Industries and the Maharashtra Government marks a significant step forward in India`s defence sector, with a clear focus on innovation, job creation, and global competitiveness, ANI cited.
Maharashtra Chief Minister Devendra Fadnavis had left for Davos in Switzerland to attend the World Economic Forum (WEF), a communication issued by the CM`s office stated on Sunday.
As per the statement, the chief minister is expected to sign memoranda of understanding (MoUs) for data centres, automobiles, semiconductors, electric vehicles, electronics, steel, food processing, textiles, pharma, infrastructure and other sectors during his visit.
(With inputs from ANI)
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