India produces largest arms and ammunition: Anil Agarwal
He said there are currently 52 defense factories in the country to manufacture weapons and ammunition, but most of them are running at 10 per cent capacity.
“We (India) can produce the largest arms and ammunition. We have 52 factories but they are running at 10 per cent capacity. If they can be corporatized it will bring a new way of thinking, ”Agarwal said in his 16th inaugural address. Th Post Graduate Program Batch for Executives for Visionary Leadership (PGPEX-VLM) in Virtual Management from London on Saturday.
According to him, due to the sharp rise in prices and rising inflation, the country needs to focus on increasing its output in sectors to remain stable.
India currently has a huge outgo in terms of imports of oil and defense products and it needs to be addressed.
He is bullish on oil and gas production as India has 300 billion barrels of oil reserves. He noted that the country needs to produce at least 50 percent for energy security.
India is one of the largest and best bauxite mines in the world and the government is in the process of privatizing the mines. According to him, the country has enormous potential for aluminum production, as demand from steel varies in many applications. He said bauxite mining would begin in two years from next year.
Vedanta hopes to launch semiconductor production in India in the next two years.
“Like a semiconductor Sutradhar For any industry. We are looking to set up a glass and semiconductor company in India. We need to start production of semiconductors in India in the next two years, ”he said.
Vedanta signed a memorandum of understanding with Foxconn in February this year to set up a joint venture company to manufacture semiconductors in India.
April 16, 2022