Shirdi (Maharashtra) [India], May 25 (ANI): Nibe Group signed a joint venture with Elbit Systems, Israel for the establishment of advanced energetic materials and propellant manufacturing facilities in India.

The Parties intend to establish a New Company to manufacture and supply of strategic defence products in India, in alignment with the Government of India's 'Make in India' and 'Atmanirbhar Bharat' initiatives.

The proposed product portfolio includes Nitro Cellulose, Nitro Glycerine, Single Base Propellant, Double Base Propellant, Triple Base Propellant.

Under the proposed framework, Elbit is expected to provide technical know-how and related support, while GDIL / Nibe Group shall undertake establishment, investment, and operational responsibilities for the proposed facilities in India.

The proposed venture is expected to contribute towards strengthening indigenous defence manufacturing capabilities and reducing import dependency in critical energetic materials and propellant systems.

Balakrishnan Swamy, Strategy Head of Nibe mentioned 'Nibe Group is committed to working closely with the relevant authorities and stakeholders for the successful execution of this initiative.'

Meanwhile, Defence Minister Rajnath Singh, along with Maharashtra Chief Minister Devendra Fadnavis, inaugurated a Defence Manufacturing Complex of a private sector company, NIBE Group' at Shirdi. The complex intends to manufacture advanced artillery systems, missile and space technologies, rocket systems, energetic materials, and autonomous defence platforms.

Rajnath Singh stressed the importance of self-reliance in ammunition production, and exuded confidence that the complex would help in fulfilling the operational requirements of the defence forces & bolster the industrial ecosystem of the country.

He stated that defence production, which was earlier largely confined to the Public Sector Units and Ordnance factories, was opened to the private sector by the Prime Minister Narendra Modi-led government. 'We recognised the capabilities of the private sector as it can transform India into a global manufacturing hub,' he said.

Defence Minister emphasised that the outcome of future wars will be determined by the nation's advancements and capabilities in munitions and automation, and not by the size of its forces. 'Glimpses of this reality can be witnessed in the ongoing Russia-Ukraine conflict and the West Asia situation. India demonstrated this capability during Operation Sindoor,' he said. (ANI)