Reliance Defence Limited, a wholly owned subsidiary of Reliance Infrastructure Limited (an infrastructure arm of the Anil Ambani-controlled Reliance Group), has entered into a strategic partnership agreement with South Korea’s LIG Nexl for smart sensors used in weapons and ammunition systems of armed forces.
According to Business Standard, as part of the agreement, two companies will explore opportunities in the identified range of defence products required by the Indian Armed Forces. LIG Nex1 are emerging leaders in smart heavy weapons in category of anti-ship missiles, anti-tank guided missiles (ATGM), and guided rockets.
Currently, there are multiple programs for the Indian Armed Forces that the two companies plan to address together. This will potentially include improvements to the existing weapon systems which are part of LIG Nex1 portfolio to meet the specific requirements of the Indian Armed Forces. Cumulative value of programs being targeted will exceed multi billion.
During the visit of Prime Minister Narendra Modi to Seoul in May 2015, India and South Korea relations were upgraded to Special Strategic partnership.
