L&T sees $28-billion golden goose in defence orders

Govt's new defence purchase policy allows non-state local firms to compete for orders from military

Fresh from winning its biggest defence contract in May, Larsen and Toubro (L&T) is planning to bid for $28 billion of orders, including warships and submarines, in India as Prime Minister Narendra Modi breaks with tradition to embrace private, local suppliers.

India’s new defence purchase policy that allows non-state local firms to compete for orders from the military is helping the nation’s biggest engineering firm to become more ambitious, Jayant Patil, head of L&T’s defence business, said in an interview. The company is building on its success with a $700-million order for artillery guns in May, unprecedented in size for