India can become self-reliant in the manufacture of weapons, government should take more reform steps: Vedanta

Vedanta Chairman Anil Agarwal has urged the government to take more reform steps for the country’s defense sector and change their working style to take maximum advantage of the country’s defense factory. He said that India can become self-reliant in this field. Vedanta ,Vedant) The chairman said these things while addressing an educational program organized in India in a virtual way. With this, Anil Aggarwal has expressed hope that his company will move from the country to semiconductor (Semi conductor) will start production in the next two years. The company has signed an agreement with Foxconn this year. Anil Agarwal also said that he wants crude oil from India (Crude oilare also very optimistic about increasing the production of

What Vedanta Chairman said

Addressing a program on Saturday, Anil Agarwal said that the Government of India should take further reforms in the defense sector. With this, he said that to make the country self-reliant in the manufacture of weapons, a corporate form should be given in the factories of the defense sector. He said that at present there are 52 defense factories manufacturing arms and ammunition in the country but most of them are working with only 10 percent capacity. Addressing the students virtually from London to Kolkata, Anil Agarwal said that India can reach the forefront in manufacturing of weapons in the world, if the defense sector factories are given a corporate form, then the way of thinking can change. Along with this, he said that we hope that in the coming 2 years we can start the production of semiconductors in India. He said that in the coming times, the semi conductor will act as a facilitator for any industry. The company had signed an agreement with Foxconn in February this year to set up a joint venture to manufacture semiconductors in India.

Vedanta’s big investment plan

At present, Vedanta is working on a big investment plan. Last month, the company had informed that it will invest $ 1.5 billion in its oil, gas, zinc and steel business. In the information given to the stock exchange, it was said that in the meeting of the board of directors, the capital expenditure of $ 687 million has been approved for the exploration of new wells in the company’s oil and gas unit ‘Cairn Oil and Gas’. In addition, the Board of Directors approved an expenditure of $466 million for the expansion of the second phase of the Gamsberg zinc project in South Africa and $348 million for the expansion of other projects.