RInfra sets sights on global aerospace with ₹10k cr bet

MUMBAI: Anil Ambani’s Reliance Defence Ltd plans to invest ₹10,000 crore in the aerospace business over the next decade, even as it prepares for India’s first locally made commercial aircraft to take to the skies in about three years.

- T. Surendar & Satish John

Reliance Defence houses the aviation and munitions business of Reliance Infrastructure Ltd, a listed company. Part of its investment would be funded by Reliance Infra raising capital through preferential placement of shares, sale of shares to institutional buyers and placement of foreign currency bonds—adding up to ₹7,600 crore.

Reliance Infra also hopes to monetize nine road projects in its overall portfolio, said Rajesh Dhingra, managing director and chief executive of Reliance Defence, in an exclusive interview with Mint.

“That's the kind of road map we have ahead of us to be a global player. So five years from today, I think we would be in a position where we would be an integral part of the global aerospace domain,” said Dhingra.

He also said a “Made in India” Falcon 2000 business jet is expected to fly by 2028.