Business Wire India
Under the supervision and leadership of Abhay Lodha, Topworth Group is now venturing to foray into the Indian defense manufacturing.
Topworth Group of companies developed from a modest Steel Trading enterprise in 1999 to a powerful integrated firm with commercial interests in Steel, Power, Trading, and Infrastructure.
Topworth Company's chairman and founder Abhay Lodha has outlined a strategy for developing steel grades for land and naval defense. He says, “We will work to introduce world-class technology to India and develop skill sets in the nation in order to provide top-of-the-line platforms for our Armed Forces, reduce defense product imports, and create high-skill employment.”
According to the IEBF (India Brand Equity Foundation) – the Indian aerospace & defense (A&D) market is projected to reach ~US $70 billion by 2030, driven by the burgeoning demand for advanced infrastructure and government thrust.
The Defense Ministry has chosen certain sectors for obtaining industrial knowledge from the private sector. Naval Utility Helicopters, Light Utility Helicopters, submarines, and Naval Multi Role Helicopters are among the projects.
Abhay Lodha says that, “The indigenous Armour plate for ballistic protection is one of the Topworth's products. Some of its goods are ground-breaking, while others are straightforward import alternatives for Indian contractors seeking to maintain their supply chains closer to home. Naval destroyers, offshore patrol boats, and floating docks will be built using the latter. Other items will be utilized in the building and repair of Coast Guard boats and navy ships. Topworth's materials will be employed in battle tanks, missile motor casings, combat vehicles, and artillery cannons in land defense.” These items have considerable export potential in addition to expanding domestic demand. According to market estimates, yearly demand potential is over 2 lakh tons, with 50% of that in flat steel and the rest in structural steel.
The founder and Chairman of Topworth Group, Abhay Lodha, stated that the defense industry is expanding at a breakneck pace. Topworth wants to be a part of this booming market so that they may use their capabilities, which include cutting-edge production and product development. We've built a solid reputation by successfully delivering steel to a variety of defense applications. This has given us the confidence and incentive to broaden our product offerings in this market.
To meet the expanding demands of clients in the aerospace and defense industries, they will explore technical alliances with Indian and global OEMs. In future years, they will continue to make significant investments in engineering and production capabilities says Abhay Lodha the chairman of Topworth.
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