MET City, a wholly-owned subsidiary of Reliance Industries Limited, has achieved a significant milestone by becoming the site for Saab’s inaugural manufacturing facility of the renowned Carl-Gustaf Weapon System in India. This marks a pivotal moment for India’s journey towards self-reliance in defense manufacturing, as it represents the country’s first 100% Foreign Direct Investment (FDI) in defense, signaling a new era in bolstering India’s autonomy in crucial defense technologies. Saab, a prominent Swedish defense major with a rich portfolio of defense products, has longstanding ties with India.
The agreement signed between the two entities, followed by today’s groundbreaking ceremony by Saab FFVO India to commence construction of the plant in Haryana, heralds a significant addition to Reliance MET City’s diverse array of sectors, now encompassing the defense sector and opening doors to new opportunities for expansion.
Reliance MET City already hosts companies from 9 different countries across various sectors, establishing itself as a rapidly expanding business hub in North India. With its strategic location and well-developed infrastructure, it has emerged as a preferred destination for industries spanning defense, engineering, electronics, auto components, medical devices, FMCG, footwear, plastics, consumer products, and more. Notably, it stands as one of India’s largest IGBC Platinum Rated Integrated Smart Cities and serves as the sole Japan Industrial Township (JIT) in Haryana, accommodating 6 Japanese companies across electronics, auto-components, and medical devices sectors. Additionally, the project boasts the presence of 6 companies from South Korea and multiple companies from Europe, including Sweden.
Mr. Mats Palmberg, Chairman & Managing Director of Saab India Technologies and Member of the Board of Directors of Saab FFVO India said, “We are deeply honored to be the first global defense company to secure approval for 100% foreign direct investment in India. Partnering with Reliance MET City to establish our manufacturing plant in India underscores our strong commitment to the Make in India initiative and our close collaboration with the Indian Defence Forces. We chose Reliance MET City due to its strategic location, well-developed infrastructure, and availability of trained manpower.”
Mr. S. V. Goyal, CEO & Whole Time Director of MET City, expressed delight in welcoming Saab to Reliance MET City stating, “We are thrilled to welcome Saab to Reliance MET City, marking a significant milestone in our journey of inviting key global companies to the MET city. Saab as India’s first 100% FDI-approved defence manufacturer will not only strengthen our resolve for delivering best-in-class infrastructure but will also establish MET City as a preferred location for doing business for global companies. With its Plug-n-Play infrastructure, IGBC Platinum-rated certification and companies hailing from 9 different countries, MET City has emerged as a premier business destination in India attracting companies from diverse sectors. It is a pioneering project in sustainable development, with over Rs. 8,000 Crore investment already committed. Presently, MET City holds licenses for over 2200 acres, and the project has already employed more than 40,000 individuals.”
Mr. Vaibhav Mittal, VP & Head of Business Development at MET City said, “We are very excited to have a global defense manufacturer like Saab at MET City. This shows our unwavering commitment to encourage global companies to invest in India and Haryana. With this MET City will now be visible across the globe as a key location for defence manufacturing thus paving the way for the overall growth of the region. As India becomes self-reliant in defense technologies, this plant will go a long way in being a pioneer for many others to follow.”
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