Indian corporations Reliance and Hinduja are reportedly looking to form an alliance to develop and build armoured vehicles for the Indian armed forces.
News reports in India on 27 December said the partnership will be headed by Reliance subsidiary Reliance Naval & Engineering (RNEL) and Hinduja company Ashok Leyland.
The two companies will reportedly seek to enter a joint venture with a foreign vehicle manufacturer once their partnership has been agreed through a memorandum of understanding.
Reliance has not commented on the development but a spokesperson for Hinduja said the group is “working on multiple initiatives in defence, including the armoured vehicle project”.
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