Nibe Ordnance and Maritime Limited has recently signed a Memorandum of Understanding (MoU) with Premier Explosives Limited to establish a joint venture focused on ammunition and explosives production. This collaboration aims to enhance domestic and global market capabilities in defence manufacturing.

The joint venture will concentrate on the development and manufacturing of ammunition and explosives, thereby strengthening India's defence production capabilities.

This partnership aligns with India's broader goals of self-reliance in defence, particularly under the Atmanirbhar Bharat initiative, which seeks to reduce dependency on foreign military imports.

The products developed through this joint venture are intended for both domestic use and international markets, positioning Nibe and Premier Explosives as significant players in the global defence sector.

This partnership marks a significant step in enhancing the capabilities and offerings of both companies within the defence industry.