Defence manufacturer Saab to set up new facility in India

Swedish defence products company Saab SAABb.ST will set up a facility to manufacture its Carl-Gustaf M4 weapons system in India, a top executive said yesterday, as the company looks to ramp up production. The facility will begin production in 2024, Senior Vice President Gorgen Johansson told reporters at a news conference. Johansson declined to provide detail on the investment that the company is likely to make in the facility. The Carl-Gustaf M4 is a recoilless rifle which has been ordered by the Indian armed forces. The new facility will support its production as well as components for users of the system around the world, the company said in a statement. India - the world's largest buyer of Russian arms - has been pushing to expand its defence manufacturing capacity in recent years and grow its military exports.