The Indian Army says it wants to deploy the vehicles in places like Eastern Ladakh along with desert and amphibious terrain. The FICV project has been in plans for a long time and the need for a modern troops carrier equipped with tank-busting capabilities was felt during the recent Ladakh conflict.
Tata Motors said it may invest about Rs 600 crore (Rs 6 billion) to develop Futuristic Infantry Combat Vehicles (FICV) and set up a manufacturing plant for rolling out FICVs for the Indian Army.
DRDO's failures over the decades have contributed significantly to India becoming the world's biggest weapons importer, points out Lieutenant General Prakash Katoch (retd).
The Indian troops guarding the nearly 3,500-km Line of Actual Control (LAC) maintained an assertive approach in sync with the broader national security doctrine and procured a variety of military platforms and weapons to enhance their combat capabilities.
'Tata A&D, when formed, will be better equipped to execute larger and more complex projects and be more globally competitive as part of the global supply chain.'
Apart from battle tanks, Pakistan Army is also procuring 245 150mm SP Mike-10 guns from Italy out of which it has already received 120 guns.
The country's largest stainless steel maker Jindal Steel (Hisar) on Wednesday marked its foray into the defence sector by forging a pact with DRDO for transfer of technology relating to high-nitrogen steel for armour applications.
Bank shares were the top losers after sharp gains last week.
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