L&T Current Affairs - 2019
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The Prime Minister Narendra Modi inaugurated the Armoured Systems Complex (ASC), developed by Larsen & Toubro (L&T) at Hazira near Surat in Gujarat. This Armoured Systems Complex (ASC) is the country’s first private facility where the K9 Vajra self-propelled Howitzer guns will be manufactured.
K9 Vajra self-propelled Howitzer guns
The features of the K9 Vajra self-propelled Howitzer guns
- The gun weighs 50 tonnes and can fire 47kg bombs at a 43-kilometre distance target.
- It can turn around at zero radii.
- K9 Vajra is a variant of K9 specially designed for operation in the desert areas bordering Pakistan.
Make in India – Defence
The Armoured Systems Complex (ASC) at Hazaria is a striking example of Make in India Defence. The L&T is executing the production of the K9 Vajra self-propelled Howitzer guns and has signed a transfer of technology contract for guns with South Korean company Hanwha Corporation.
Around 400 SMEs are involved in developing 13,000 parts and steps are being taken to make a totally indigenous battle tank without having to depend on external help.
The Army now doesn’t have to depend on foreign nations for spare parts during its 40-year life cycle. The Army’s life cycle cost will be drastically reduced.
Union Government has appointed Anil Manibhai Naik as Chairman of National Skill Development Corporation (NSDC). He is currently Group Chairman of engineering conglomerate Larsen and Toubro (L&T). He was awarded Padma Bhushan, India’s 3rd highest civilian award in 2009 for his outstanding contribution to economic growth of the country.
National Skill Development Corporation (NSDC)
NSDC is Public Private Partnership (PPP) under Ministry of Skill Development & Entrepreneurship (MSDE). It was founded in 2009 as not-for-profit company by Ministry of Finance to address need for providing skilled manpower across various industry sectors. Government of India (GoI) through MSDE holds 49% of share capital of NSDC, while private sector has balance 51% of the share capital. NSDC aims to promote skill development by catalyzing creation of large, quality and for-profit vocational institutions. Its objective is to create training capacity in the country; fund vocational training initiatives and create market ecosystem for skill development. Its mandate is to train 150 million people by 2022. It is also involved in re-skilling and also in catering to skilled manpower requirement of overseas markets, most notably that of Japan (under TITP) and UAE.
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