Private Sector

We are delivering defence orders ahead of time, says L&T’s AM Naik

Finance and policy issues remain unaddressed by the government’, said Larsen and Toubro (L&T) group chairman AM Naik. In an exclusive conversation with CNBC-TV18’s Latha Venkatesh, he said that the private sector are not given many defence orders.

“This is the biggest contract we got for 100 field guns. This is a current version of field guns. There are four types of guns, one they have cancelled because it did not succeed. So the government said that they will add those 180 guns which were cancelled to this 100 when you come and deliver 50. Now we are ahead of schedule,” he said.

“Prime Minister (PM) inaugurated the gun factory but in less than one year – now recently the defence minister came to accept 51 guns. By then that 180 guns should have been ordered. Again there is no money, so this September we will close the factory which was opened 12 months ago. We are delivering the guns ahead of time,” he added.

“When defence minister came, there was a lot of discussion going on. Finally, I said – the real issue is funding. The government official said – I think you have hit on the nail,” said Naik.

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