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This is an archive article published on March 30, 2012
Revamp defence procurement: Mahindra
In the wake of bribery allegations,Mamp;M MD Anand Mahindra said govt must bring transparency.
In the wake of bribery allegations,Mahindra amp; Mahindra Vice Chairman and Managing Director Anand Mahindra today said the government needs to revamp and bring in transparency in defence procurements.
8220;If India wants to bring high technology8230;and armed forces to the symmetrical levels of our aspirations,this is the time to answer controversies by bringing in transparency and technology,8221; Mahindra told reporters at the Defence Expo here.
Calling for increased role of Indian private sector in fulfilling the country8217;s defence requirements,he said India needs to move swiftly to a 8220;drastically new template.8221;
When asked controversy over Army chief8217;s letter to the Prime Minister on the country8217;s defence preparedness,Mahindra said:8221;I would rather not comment on that particular document,but as an Indian I am worried and we should be working for assimilating more technology.8221;
Mahindra amp; Mahindra is one of the homegrown companies actively looking to expand in the defence sector.
The company today announced two separate joint ventures 8212; one with Israel8217;s Rafael Advanced Defence Systems and another with US-based Telephonics Corporation.
8220;From the two new joint ventures,we expect a minimum turnover of USD one billion in the next ten years,8221; Mahindra said.
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The group already has a joint venture with Europe8217;s BAE Systems.
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