Indian firm Mahindra Defence Systems (MDS) has severed ties with a blacklisted Swiss company for a proposed project to produce radars for naval ships.
For the first time, the Indian Army has thrown open its doors for private players to bid for a project to build the Future Infantry Combat Vehicle
Chief executive of Mahindra Defence Systems Khutub Hai tells CNBC-TV18 that they aim to generate USD 50 million from their joint ventures with Telephonics Corp and Rafael Advance Defence Systems.