Maharashtra secured investments totaling Rs 1,358 crore through three key Memorandums of Understanding (MoUs) with leading companies on the inaugural  day of the MSME Defense Expo in Moshi. 

The agreements are set to fortify the state's position in the aerospace and defence sector while fostering economic growth and employment opportunities.

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Max Aerospace and Aviation Pvt Ltd, a leading aeronautical engineering firm, inked an MoU worth Rs 558 crore with the Maharashtra State Government to establish a manufacturing facility in Nagpur. This investment marks a significant stride for the production of various defence equipment, including Assault Rifles, Carbines, Machine Guns, Automatic Pistols, Grenades, Air Launch Guided Bombs (Precision Munitions), and Ammunition.

SBL Energy Limited, a prominent manufacturer of mining and industrial explosives, signed an MoU valued at Rs 500 crore for the production of explosives serving both industrial and defence needs. With plans to expand in Nagpur, the company aims to meet the rising demand in both sectors, contributing to job creation and skill development.

Munitions India Limited, a central government-owned defence company, collaborated with Nibe Limited to invest Rs 300 crore in Pune for the manufacturing of 120 mm, 125 mm, and 155 mm ammunition for export. This partnership positions Munitions India Limited as a major player in ammunition and explosives, aligning with the nation's goal of self-reliance in defence.