MET City, a subsidiary of Reliance Industries Limited, has achieved a significant milestone by becoming the home to Saab’s first manufacturing facility of the famous Carl-Gustaf Weapon System in India. This development marks India’s first 100% Foreign Direct Investment (FDI) in defense, underlining the country’s efforts to become self-reliant in key defense technologies.
The agreement between the two companies and the subsequent groundbreaking ceremony by Saab FFVO India to start construction of the plant in Haryana signifies a new addition of the defense sector to the existing wide array of sectors operating from Reliance MET City. This move is expected to open doors to new and expanding opportunities.
Reliance MET City, located in North India, is a rapidly expanding business hub and a preferred destination for industries across various sectors, including defense, engineering, electronics, auto components, medical devices, FMCG, footwear, plastics, and consumer products. The city boasts companies from 9 different countries and stands as one of India’s largest IGBC Platinum Rated Integrated Smart Cities.
Mats Palmberg, Chairman & Managing Director of Saab India Technologies, expressed the company’s commitment to the Make in India initiative and collaboration with the Indian Defense Forces. He highlighted the strategic location, well-developed infrastructure, and availability of trained manpower as key factors in choosing Reliance MET City for establishing the manufacturing plant in India.
S. V. Goyal, CEO & Whole Time Director of MET City, emphasised the significance of Saab’s presence in the city, stating that it will strengthen the resolve for delivering best-in-class infrastructure and establish MET City as a preferred location for global companies.
Vaibhav Mittal, VP & Head of Business Development at MET City, echoed the excitement of having a global defense manufacturer like Saab at MET City, emphasizing the commitment to encourage global companies to invest in India and in Haryana.
MET City, a 100% subsidiary of Reliance Industries Limited, is developing a world-class Greenfield Smart city on over 8,000 acres of land in Haryana. It has emerged as a key driver of economic growth in the state and the region, providing direct employment to over 40,000 individuals across operational and under-construction companies.
Saab, a leading defense and security company headquartered in Sweden, is known for designing, manufacturing, and maintaining advanced systems in aeronautics, weapons, command and control, sensors, and underwater systems.
Also Read: India Powers Up: Global Semiconductor Ambitions in 5 Years
