Larsen & Toubro on Tuesday said it is committed to reduce dependence on imported products from China and achieve self-reliance for domestic industry to support ‘Atma Nirbhar Bharat’ initiative.
As many as 20 Indian Army personnel were killed in a brutal assault by the Chinese military in Galwan last week which escalated the border tension.
“Larsen & Toubro, India’s leading multinational engineering, construction, technology, and financial services conglomerate is committed to achieving self-reliance for the domestic industry by creating a strong and feasible “Make in India’ ecosystem,” the company said in a statement.
“L&T takes pride on being at the forefront of creating projects and products, some of the largest, biggest, and longest in the world” all made in India, it said.
“With an unfortunate incident involving our brave soldiers at our border, sentiments are running high in the country. As a company involved in nation-building for more than eight decades, we firmly stand with the policy of manufacturing best-in-class products locally through ‘Make in India’.
“The atmosphere is right for that and we should accelerate this. We are fully supportive of the Government of India’s initiatives and will do our best to contribute to Atmanirbhar Bharat Abhiyan,” L&T CEO & MD S N Subrahmanyan said in the statement.
The company said it has been involved in developing a strong supply chain of local vendor partners in its businesses like it did for over 80 per cent localisation for its 155mm/52 calibre self-propelled K9 Vajra-T guns, supplied to Indian army.
It is also nurturing the local manufacturing and construction ecosystem involved in producing efficient and cost-effective substitutes for the global markets.
The company said as a long-term proponent of Make in India, Larsen & Toubro has been contributing for almost all key engineering and technological developments in the country for over eight decades.
It played a significant role in the construction of almost all nuclear reactors for the power generation.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 21 billion in revenue. It operates in over 30 countries.