Defiance Technologies Limited, a Hinduja Group Company has signed a Memorandum of Understanding (MoU) with AUSY Group, a leading European company specialising in High Technology and Engineering, to set up a joint venture to address defence offset requirements in India.
In a statement today, as the first step towards the creation of this joint venture, Defiance and AUSY have signed the MoU. The joint venture will help meet AUSY’s customer’s commitment for offset defence obligation as mandated by Indian defence offset policy norms. The JV has to be approved by the Defence Offset Facilitation Agency (DOFA) established by the Ministry of Defence. With this, AUSY will be able to address the new offset Defence contract from its European customers towards India.
The majority of offset opportunities in India lie in the Engineering Service Outsourcing (ESO), Maintenance, Repair and Overhaul (MRO), Enterprise Resource Planning (ERP), Information Technology, Control Systems, Research and Development as identified by Frost & Sullivan in their report on the Indian Defense Offset Policy.
As an engineering solutions provider, we have addressed requirements for the defence sector and with our expertise in automotive, aerospace and manufacturing we are set to play a significant role in meeting defence offset requirements. This partnership with AUSY will help to leverage AUSY’s global customer network while helping fulfil their defence offset obligations, commented Subu D Subramanian, managing director & CEO at Defiance Technologies.
Defiance Technologies’ alliance with AUSY will allow AUSY to be listed in the offset defence supplier list. This listing will not just provide a competitive differentiator but also authorize customers to include AUSY in their road map as a trusted supplier in India.