JSW Group In Defence And Aerospace Sector, Acquires 51% of Stakes In Gecko Motors Pvt. Ltd

JSW group is known for dealing in the energy sector, cement, infrastructure, paints, sports, and many more. They have recently decided to enter defense manufacturing as well. JSW Group In Defence and Aerospace Sector. The company acquired 51% of Stakes In Gecko Motors Pvt. Ltd. The company is now renamed JSW Gecko Motors Pvt. Ltd. It specializes in off-road vehicle manufacturing. The company announces on Thursday about the acquisition. Jindal from JSW talks about the potential of doing business in the defense sector. Let us discuss more details about JSW Group’s new working sector below.

JSW Group In Defence And Aerospace Sector

JSW group enters the Defence and Aerospace sector after acquiring 51% of the stake in Gecko Motors. The company is now called JSW Gecko Motors Pvt. Ltd. It is an off-road vehicle company. As JSW’s owner, Sajjan Jindal mentions the defense sector has a lot of scopes. The main reason is the increase in the defense budget. There is already $73.8 billion contributing to the defense budget of the country. However, the expectations are that the country’s defense budget can rise to $200 billion in 2030. There have been several researches and reports conducted on the scope of private firms in defense. The private firms can make contracts of thousands of crores in the sector.

Only the businesses are not pointing out this data. The Defence Secretary, Giridhar Aramane also says similar things. According to him, the sector has the potential to reach Rs. 1.5 trillion. Almost half of the orders will go with the private sector. Apart from that, JSW Gecko Motors is already working on a contract to manufacture 96 units of Specialist Mobility Vehicles (SMV) by the name ATOR N1200. The manufacturing work is going on in Chandigarh.

JSW Group will be focusing on developing more in the defense sector. They will work on the advancement of military technology that will assist the soldiers and contribute to the strength of the Indian army. The country is working on holistic development. The defense sector also plays a crucial role in any country. It is currently among the top sectors in monopoly with the government. The Indian defense will have more strong equipment with the collaboration of the public and private sectors in defense manufacturing. Thus, technological advancement can contribute to our economy’s growth as well.

JSW Gecko will now be the subsidiary of JSW Defence with the majority of stake and acquisition of the company. Many other private companies are looking forward to entering the defense sector. The government also seems willing to give a chance to these companies to contribute to the country’s defense and strength.

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