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News: Bharat Forge and its subsidiary operating in the defence domain i.e. Kalyani Strategic Systems has announced broadening of its manufacturing relationship with Paramount group (leading global aerospace and technology company headquartered in UAE), to produce a wider range of armoured vehicles in India for Paramount’s global customers. In this existing partnership they have developed and produced large volumes of the locally-made KM4 armoured vehicles for the Indian Army.
Views: This is positive development for the company with proven capabilities in the defence space. Encouragingly the company is winning substantial orders in the export market (current order book pegged at ~₹ 3,000 crore). As contours of its partnership extension, Bharat Forge will be involved in development and production of 4x4 and 6x6 Infantry Combat Vehicles for Paramount customers around the world.
Impact: Positive