MTAR Technologies Ltd has received the defence industrial licence for production of various mechanical and electronic subsystems in the defence sector.
“Defence licence will enable MTAR to partner with global MNCs to address various electronic and mechanical sub-systems. The company will not only be able to increase the revenues from defence but also be able to work on some of the complex sub system level projects by collaborating with MNC customers,” Parvat Srinivas Reddy, Managing Director, MTAR Technologies, said in a release.
The licence will facilitate ease of doing business with foreign MNCs on various defence projects. It will enable the Hyderabad-based company to partner with foreign MNCs and cater to both domestic and export markets by taking up projects under the ‘Buy (Indian)‘, ‘Buy & Make (Indian)‘, and ‘Make’ categories of acquisition.
It will also enable MTAR to manufacture various sub-systems (command control computers, communication intelligence surveillance and reconnaissance systems), electronics equipment required for electronics , design, development, manufacturing, integration & upgradation of special naval equipment and their subsystems & air independent propulsion systems designed for submarines, according to the release.