Kalyani Strategic Systems Ltd and AM General sign landmark letter of intent for supply of cannons to the U.S.
Building upon its extensive expertise in artillery systems and its prior collaboration with AM General, KSSL continues to establish itself as a key player in the global defence industry. The company had recently entered an agreement with AM General to co-develop a wide range of next-generation artillery solutions, including mounted, towed, and ultra-light gun systems in both 105mm and 155mm calibers.
Speaking on the sidelines of the ongoing IDEX in Abu Dhabi, Mr. Baba Kalyani, Chairman & Managing Director, Bharat Forge Ltd. said, 'Supply of made in India critical defence systems to the United States is pathbreaking! We at KSSL are proud to be the first Indian company to supply cannons to U.S. It is a testament to our capabilities and a major advancement in our mission to be a world leading Artillery Solutions provider. This agreement underscores the trust and confidence that global defence leaders, such as AM General, place in our capabilities. It also reinforces our commitment to delivering cutting-edge, battle-proven solutions to meet modern warfare requirements.'
AM General, a global leader in military vehicle platforms, has been actively exploring next-generation artillery solutions. The company's prior collaboration with KSSL on artillery platforms has paved the way for this deeper engagement. John Chadbourne, Executive Vice President, AM General, shares, 'This Letter of Intent with KSSL represents an important step in expanding our strategic partnership. Given KSSL's proven artillery capabilities and our shared commitment to technological innovation, we see tremendous potential in bringing advanced artillery solutions to the U.S. defence forces. AM General and Mandus are looking forward to exploring this collaboration with Kalyani Group to ultimately deliver Advance Mobile Artillery Capabilities.'
This initiative also comes after India-U.S. bilateral defence meeting, reaffirming the growing strategic partnership between the two nations and their joint efforts in strengthening defence industrial cooperation. It also underscores India's growing defence manufacturing footprint and its emergence as a trusted supplier of advanced weaponry to global markets.
About Kalyani Strategic Systems Limited:
KSSL (a wholly owned subsidiary of Bharat Forge Limited), a pioneer in the Indian defence industry with a strong research-and-development focus, has developed a number of indigenous weapon platforms, off- road protected mobility solutions and high-technology military products. It is already exporting its in-house designed and developed artillery systems, munitions, and mobility solutions globally.
About Bharat Forge
Bharat Forge Limited (BFL), a Pune-based Indian multinational, is a technology driven global leader in providing high performance, innovative safety critical components and solutions for several sectors including automotive, power, oil and gas, construction & mining, rail, marine, defence and aerospace. BFL has global manufacturing footprint with presence across five countries, with the largest repository of metallurgical knowledge and offers full service supply capability to its geographically dispersed marquee customers from concept to product design, engineering, manufacturing, testing and validation.
AM General
AM General , manufactures, and supports specialized vehicles for military and commercial customers. With a well-rounded product portfolio, which includes the iconic HUMVEE vehicles, Joint Light Tactical Vehicle A2 (JLTV A2), the next-generation HUMVEE Saber light tactical truck that has enhanced levels of protection, and the revolutionary soft recoil technology for mobile platforms, AM General strives to offer continuous improvement that is mission ready and future driven. Mandus Group LLC is well known industry leaders in Artillery Solutions, Logistic, Support and repair, who holds the IP of highly innovative and unique advanced recoil technology and are leading developer of revolutionary Soft Recoil Based mobile weapon platform.
Mandus group
Mandus LLc is well known industry leaders in artillery solutions, logistics, support and repair, who holds the IP of highly innovative and unique advanced recoil technology and leading developer of revolutionary soft recoil based weapon systems
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
5 hours ago
- The National
S&P raises India's credit rating to BBB in first upgrade for 18 years
S&P Global Ratings upgraded India 's long-term sovereign crediting rating to "BBB" from "BBB-" on Thursday, owing to the country's fiscal consolidation, credible monetary policy and strong economic growth. It was India's first upgrade in 18 years. 'The upgrade of India reflects its buoyant economic growth, against the backdrop of an enhanced monetary policy environment that anchors inflationary expectations,' S&P Global analysts wrote. "Together with the government's commitment to fiscal consolidation and efforts to improve spending quality, we believe these factors have coalesced to benefit credit metrics." S&P also raised India's short-term ratings to "A-2" from "A-3", adding that the outlook on the long-term rating is stable. It also revised its transfer and convertibility assessment to "A-" from "BBB+". India's Ministry of Finance said it welcomed S&P's decision to upgrade the country's credit rating. The ratings agency said India's economy had a 'remarkable comeback' from the Covid-19 pandemic, with real GDP growth averaging 8.8 per cent over the 2022 fiscal year to the 2024 fiscal year, the highest in the Asia-Pacific. Analysts said they expect GDP to increase 6.8 per cent annually over the next three years. 'India remains among the best performing economies in the world,' S&P Global said. S&P Global also expects the effects of the US tariffs on India's economy 'will be manageable', noting that about 60 per cent of its growth comes from domestic consumption. US President Donald Trump last week doubled India's tariff rate to 50 per cent because of its continued imports of Russian energy. 'We expect that in the event India has to switch from importing Russian crude oil, the fiscal cost, if fully borne by the government, will be modest given the narrow price differential between Russian crude and current international benchmarks,' analysts wrote. Analysts also anticipated that, factoring in sectoral exemptions on pharmaceuticals and consumer electronics, the exposure of Indian exports that would be subjected to tariffs at 1.2 per cent of GDP. While this could lead to a one-off hit to growth, S&P does not anticipate it will hurt India's long-term growth prospects. S&P also projected a general government deficit of 7.3 per cent of GDP in the 2026 fiscal year to fall to 6.6 per cent by to the 2029 fiscal year. It also anticipates the country's debt-to-GDP ratio to fall to 78 per cent by the 2029 fiscal year. S&P said it may lower the ratings if it finds weak political commitment to consolidated public finances. It may raise the ratings if fiscal deficits narrow in a way that would lower the general government debt below 6 per cent of GDP on a structural basis.
Dubai Eye
6 hours ago
- Dubai Eye
India PM Modi likely to meet Trump in US next month, newspaper reports
Indian Prime Minister Narendra Modi is likely to meet President Donald Trump during a visit to the US next month to attend the UN General Assembly meeting, the Indian Express newspaper reported on Wednesday, citing sources. India's foreign ministry did not immediately respond to a request for comment. An Indian official familiar with the matter said a decision has not yet been taken, and that countries usually reserve slots for the General Debate at the assembly, which is why India's "head of government" features in a provisional list of speakers on September 26. "The list will go through revisions," the official said, adding that it had not yet been decided if Modi would be going to the assembly. The General Assembly kicks off on September 9, but the debate, the annual meeting of heads of state and government, will be held from September 23-29. Although the reason for the potential visit will be to attend the UN meeting in New York, a key objective will be to hold talks with Trump and iron out trade and tariff issues that have led to some souring of ties between the two countries, the newspaper reported. News of a possible Modi trip to the US comes days after Trump announced an additional 25 per cent tariff on Indian goods to penalise New Delhi for continuing to buy Russian oil. The penalty took the total levy on Indian goods exported to the US to 50 per cent, among the highest levied on any US trading partner. Trade talks between New Delhi and Washington collapsed after five rounds of negotiations over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. On Tuesday, US Treasury Secretary Scott Bessent said several large trade agreements were still waiting to be completed, including with Switzerland and India, but New Delhi had been "a bit recalcitrant" in talks with Washington. Bessent told Fox Business Network's "Kudlow" he hoped the Trump administration could wrap up its trade negotiations by the end of October. "That's aspirational, but I think we are in a good position," he said, adding "I think we can be, we will have agreed on substantial terms with all the substantial countries."
Khaleej Times
9 hours ago
- Khaleej Times
Fed expected to stick with regular-sized rate cut after hot inflation data
A jump in U.S. wholesale prices last month looks to have all but erased the possibility that the Federal Reserve will deliver a jumbo-sized half-percentage-point interest rate cut in September, though expectations for a quarter-percentage-point move next month, followed by another in October, remain intact. U.S. producer prices rose 0.9% in July amid a surge in the costs of goods but also of services like machinery and equipment wholesaling, the Labor Department's Bureau of Labor Statistics said on Thursday. The increase, which far exceeded economists' expectations, may get passed on to consumers, who so far have not experienced a strong overall increase in prices even as the Trump administration has ratcheted up import tariffs. "We expect a stronger pass-through of levies into consumer prices in coming months, with inflation likely to climb modestly over the second half of 2025," said Ben Ayers, senior economist at Nationwide. The rise in services inflation will be particularly worrisome to Fed policymakers like Chicago Fed President Austan Goolsbee, who said on Wednesday he's on alert for signs that inflation is seeping into prices beyond those for goods affected directly by tariffs. An increase in services inflation, also evident in the consumer price data released on Tuesday, suggests inflation could become a more persistent problem, he said. U.S. Treasury Secretary Scott Bessent, who is leading the search for a replacement for Fed Chair Jerome Powell, has been pushing for a bigger rate cut next month, citing tame inflation, though on Thursday he said the U.S. central bank could start with a quarter-percentage-point move. Before the data, traders put about a 3% probability on the idea of a half-percentage-point rate cut, with most bets firmly on a quarter-percentage-point reduction. After the data, traders erased bets on a 50-basis-point move. San Francisco Fed President Mary Daly, who signaled earlier this week that she is increasingly open to the idea of a rate cut given the softening in the labor market, told the Wall Street Journal in a story published on Thursday that a 50-basis-point rate cut would signal an urgency about the job market that she does not feel. "It has been acting as a bucket of really cool water poured on the heads of those calling for 50 basis points in September," Slawomir Soroczynski, head of fixed income at Crown Agents Investment Management, said after the data. Rate-sensitive two-year Treasury yields jumped more than five basis points after the data and were last at 3.722%, over three basis points higher than on Wednesday. Benchmark 10-year yields were up about two basis points on the day, at 4.264%. "The large spike in the Producer Price Index this morning shows inflation is coursing through the economy, even if it hasn't been felt by consumers yet," said Chris Zaccarelli, chief investment officer for Northlight Asset Management. "Given how benign the CPI (consumer price index) numbers were on Tuesday, this is a most unwelcome surprise to the upside and is likely to unwind some of the optimism of a 'guaranteed' rate cut next month," he said in a note. The Fed will get another round of inflation data and a fresh jobs report before its September 16-17 policy meeting.
