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Anil Ambani-led Reliance Infra to invest $1.2 billion over next ten years for ammunition project: Report | Mint

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Reliance Infrastructure, owned by Indian industrialist Anil Ambani, has announced plans to invest $1.19 billion over the next decade in a project to produce explosives, ammunition, and small arms. India is looking to ramp up domestic defense equipment production, with a focus on exports, which reached a record high of $2.8 billion in the previous fiscal year. Reliance Infra aims to set up the project in Maharashtra state and is exploring potential joint ventures with six global defense companies. The company currently has joint ventures with French defense firms Dassault Aviation and Thales.