5 days ago
UAE's EDGE Group eyeing new investment opportunities in defence, shipbuilding
Hyderabad: After forging partnerships with Indian biggies such as
Adani Group
and Megha Group in the defence and aerospace sector, the $5 billion Abu Dhabi-based EDGE Group is scouting for more strategic investment opportunities in India in armoured vehicles as well as sectors such as shipbuilding, EDGE Group Managing Director & CEO Hamad Al Marar told TOI here on Thursday.
This includes new partnerships as well as expanding the existing partnerships with players like HAL, ICOMM of Megha Group, as well as Adani Group, he said on the sidelines of Investopia, which is a global investment platform launched by the UAE government to boost business partnerships and investment opportunities,
While EDGE has a strategic relationship with Adani Group that encompasses various domains such as cyber security, drones, and secured communications, its partnership with Megha Group is for small arms manufacturing.
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He said the group is actively exploring opportunities to leverage India's robust intellectual and manufacturing base as well as scale by aligning with the 'Make in India' initiative to enhance supply chain efficiencies and global competitiveness.
"I strongly believe that India can be benefited, and we can benefit from India on many fronts. We are looking to expand our existing partnerships in India. For instance, we are working with HAL to integrate many of our airborne systems into India's Tejas fighter jet. This is a very strong relationship that will allow them to offer more options with the fighter," Al Marar said.
