Global aerospace and technology company Paramount Group and leading Indian industrial group Bharat Forge (BFL) announced the signing of a strategic, high-level collaboration agreement to set up a joint venture to join technologies, capabilities and expertise in the industrialisation and indigenisation of defence and aerospace systems.
The companies also signed two Memorandums of Understanding (MoUs) during DefExpo 2020 in Lucknow on Friday, covering immediate opportunities in aerospace and special protected vehicle sectors.
The MoUs will enable Paramount Group and Bharat Forge to engage in joint efforts to seize global opportunities for design, development, industrialisation and indigenisation of defence and aerospace products, services and systems. BFL President  (Defence and Aerospace) Rajinder Bhatia, commented, “Paramount Group and Bharat Forge share a lot of complimentary capabilities and products. With this, both groups are well positioned to cater to varied requirement to address defence situation in conventional and asymmetric warfare.”
Paramount Group Chairman Ivor Ichikowitz said, “Building defence industrial eco-systems through strategic alliances have been the cornerstone of Paramount’s portable manufacturing model. We are excited to develop our defence and aerospace systems technologies and solutions through strong and long-term partnerships. We are pleased to partner with Bharat Forge, a company that shares our philosophy of enabling local manufacturing through technology and skills transfer and the creation of high value jobs that bolster economic growth. There are excellent synergies between our organisations, laying the foundation for innovation, technology development and the indigenisation of defence capabilities.”
The two groups jointly displayed Kalyani M4, a 4x4 multi-role armoured protected fighting vehicle and Kalyani Maverick ATC, an armoured troop carrier, at BFL’s stall in Hall No. 7 at DefExpo 2020.
These have advanced mobility capabilities to go with their unmatched side blast protection of up to 50 kgs of TNT explosives.