NEW DELHI : Megha Engineering & Infrastructures Ltd (MEIL) group firm ICOMM and small arms maker Caracal, which is part of Edge Group of UAE on Tuesday signed a licensing settlement to domestically manufacture small firearms reminiscent of pistols and sniper rifles, the corporate mentioned on Tuesday.
ICOMM signed a partnership and licensing settlement with UAE-based EDGE entity Caracal for the first-ever Switch of Expertise (ToT) in defence articles, it added.
“As per the settlement, ICOMM will domestically manufacture Caracal’s full line of small arms for the Indian market underneath the ‘Make in India’ and Aatmanirbhar Bharat initiatives,” the corporate mentioned in an announcement.
The settlement was signed on the IDEX 2023 in Abu Dhabi, the UAE, one of many largest tri-service defence exhibitions on the planet.
“ICOMM will manufacture the total vary of Caracal small arms, together with the versatile Caracal EF pistol, trendy CMP 9 submachine gun, CAR 814, CAR 816 and CAR 817 tactical rifles, CAR 817 DMR tactical sniper rifle, CSR 50 anti-material sniper rifle, CSR 338 and CSR 308 bolt motion sniper rifles and the CSA 338 semi-automatic sniper rifle,” it mentioned.
ICOMM is a part of the $ 4 billion Hyderabad-based infrastructure group MEIL.
“India’s Defence trade is on a powerful path to develop its sovereign manufacturing capabilities. This settlement exemplifies the dedication proven by Caracal to assist India’s ambitions in direction of making the defence sector self-sufficient,” Sumanth P, Managing Director of ICOMM, mentioned.
“Our entry into small arms manufacturing is a proud second for us,” he added.
He said that Caracal’s full line of small arms will likely be produced in ICOMM’s world-class design, growth and manufacturing centre in Hyderabad.
“This strategically essential signing with ICOMM for collaboration within the Indian market is a key goal for Caracal. As India continues to understand its sovereign defence ambitions, we stay up for partnering with ICOMM, whose capabilities in offering end-to-end options throughout a number of sectors, together with engineering and defence, compliments Caracal’s portfolio of superior small arms,“ Hamad Al Ameri, CEO of Caracal, mentioned.
Obtain The Mint Information App to get Each day Market Updates.
Extra
Much less
Supply: Live Mint