How L&T aims to create a multi-billion dollar defence business driven by Modi government plans to modernise military
[ad_1] The government has established a target of Rs 30,000-crore in defence exports for this fiscal year. (Image of K9 Vajra) Larsen & Toubro (L&T) plans to expand its defence business into a multi-billion dollar enterprise, significantly higher than Rs 6,185 crore (approximately $726 million at current exchange rates) in orders from the previous financial year, motivated by governmental initiatives to enhance military capabilities.The government has established a target of Rs 30,000-crore in defence exports for this fiscal year, with plans to reach Rs 50,000 crore by FY29. Additionally, the government seeks to achieve domestic defence production worth Rs 1.6 lakh crore in FY26, with projections to reach Rs 3 lakh crore by FY29.The company produces various military equipment including warships, patrol vessels, armoured vehicles, artillery guns and missile systems.In conversation with ET, L&T president and chief financial officer R […]