JSW continues to diversify; forays into defence sector

AFTER entering the country's crowded automobile space late last year by acquiring a stake in MG Motor India, Sajjan Jindal-led JSW Group is foraying into the defence sector with the establishment of a new business vertical, JSW Defence and Aerospace (JSW Defence).

- ARSHAD'KWAN

JSW Defence on Thursday marked its entry by acquiring a majority stake in an extreme off-road vehicle company, Gecko Motors, now renamed as JSW Gecko Motors. Parth Jindal, scion of JSW Group, said, "At $73.8 billion, India as a country has a large defence budget. By 2030, Indian defence budget is likely to grow to $200 billion. Capital outlay forms a very large part of the defence budget and it is here, we at JSW see a big opportunity."