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BrahMos JV started with corpus of Rs 1,300 cr, value now stands at Rs 40K cr

PTI , (June 07, 2019)

NEW DELHI: The BrahMos Joint Venture between India and Russia to build supersonic cruise missiles was started with an initial investment of Rs 1,300 crore and the business has now grown to the tune of Rs 40,000 crore, a top official of the company said Friday.

BrahMos Aerospace CEO and Managing Director Sudhir Mishra said like the supersonic missiles project, there should have been joint ventures between India and Russia in more sectors.

He said the joint venture was formed at a time when Russia was undergoing financial turmoil and India should have "encashed" it by having more collaborations.

Formed in 1998, BrahMos is a joint venture between India's Defence Research and Development Organisation and Russia's NPO Mashinostroyeniya. The supersonic cruise missiles can be fitted on all the three platforms land, air and ships & submarines.

"This collaboration has resulted in business worth Rs 40,000 crore and our initial investment was only Rs 1,300 crore. So, certainly, we feel that we created wealth, environment (the ecosystem) and till today we have given back to the Government of India more than Rs 4,000 crore in terms of taxes, directly and indirectly," Mishra said.

He was speaking at the Manufacturing Innovation Conclave organised by the Confederation of Indian Industry.

Asked about international players showing interest in buying the supersonic missile, Mishra responded in affirmative, but did not elaborate on countries seeking to purchase the missile.

Mishra said while forming a venture, India banked on its strengths in the areas of software development and manufacturing to some extent.

He said the Indian industry was roped in right from the manufacturing stage and the company restricted itself to designing and integration of the products.

"We, in fact, extended financial help to create infrastructure and brought many Russian scientists so that we develop technology.

"Today, we have more than 200 industries who are our business partners," he said adding that more than 20,000 people are employed either directly and indirectly due to the venture.

  • "Time has come for BrahMos Aerospace to work on Mark-II version of BRAHMOS so that we will still be the market leader in hypersonic cruise missiles." - Dr. APJ Abdul Kalam

  • "The traditional partnership between India & Russia has been tested by the time and time and it is the most important stabilizing factor, not only for the asian region, but for the whole world" - Vladimir Putin

  • "Make in India' should not be limited to production & manufacturing only, it should also involve generation of engineering knowledge in the country." - Mr. Sudhir Kumar Mishra

  • "BrahMos is not only a successful Joint Venture but also a model for cooperation which has immense political value for our two countries" - Mr. Dmitry Rogozin

  • "BrahMos JV is a unique venture which has given substantial guidelines in defence design inputs, engineering inputs, production related culture and ultimately in pushing the technology base forward" - Dr. V G Sekaran

  • "BrahMos JV is most suitable model, which has withstood the test of time and is recommended to be followed for realization of all high end products with our country." - Dr. V K Saraswat

  • "BrahMos is the most successful missile company of the nation and it is this unique blend of young and experienced team members motivated with innovation and utmost dedication that has contibuted to the success of the missile system" - Dr. Avinash Chander