Three Indian companies have been given the go-ahead to expand defense industrial activities as India continues its emphasis on promoting private-sector participation in military development and production. The Foreign Investment Promotion Board (FIPB) announced on October 24, that Bharati Shipyard Ltd , Solar Industries India Ltd, and Kineco Kaman Composites India were all cleared to pursue additional defense programs following an evaluation of their respective investment portfolios.
Bharati Shipyard Ltd is an Indian company that owns many shipbuilding and repair yards along the west coast of India, notably in Goa and Mangalore, as also in Kolkatta on the east coast.
Solar Industries India Ltd is India’s largest manufacturer of industrial explosives and explosive initiating systems. The company’s manufacturing facilities span 16 locations across India along with 2 manufacturing units in Africa.
Kineco Kaman Composites India Pvt. Ltd. is a joint venture between Kineco Group, Goa, India, and Kaman Aerospace Group, that has its global headquarters in Bloomfield, CT, U.S.A.
The three companies already have limited exposure to defense, although FIPB approval is required to secure a production license in any additional activity because all three companies are partly owned by foreign investors.
