Corporate News     24-Sep-21
Zen Technologies welcomes MoD decision to outsource O&M of defence training simulators
Ministry of Defence (MoD) has promulgated the framework for increased utilisation of simulators by the Indian Army, Indian Airforce, Indian Navy, and the Indian Coast Guard to transform to simulation-based training across all military domains to achieve cost-effective, safe and smart training. The framework emphasises indigenous design and development as well as outsourcing simulator operation and maintenance to Indian Companies. The policy will apply to all types of simulators currently in use or to be purchased by the Armed Forces in the future.

Ashok Atluri, Chairman, Managing Director, and CFO, commented on the government initiative, saying, “This is unquestionably the right strategic decision taken by the Indian Government. The transformation from training on actual equipment to simulation-based training across all military domains will lower training costs by saving on ammunition and logistics, extend the life of operational equipment, improve the operational readiness of the armed forces, and give a huge boost to the morale of the troops.”

He further added “The framework will provide a significant boost to Indian companies involved in the design, development, and maintenance of defence training simulators. Furthermore, the idea of outsourcing the operation and maintenance of simulators to Indian companies is a huge plus. While outsourcing military training to companies is common in countries like the USA, this is a bold move by the Government of India and the Armed Forces. With guaranteed uptime of training equipment, the military can train more reliably. Overall, simulation training and outsourcing could save thousands of crores - a very smart and prudent move by the Indian Government.”

Previous News
  Zen Technologies reports consolidated net profit of Rs 5.65 crore in the September 2022 quarter
 ( Results - Announcements 13-Nov-22   08:44 )
  Zen Technologies bags Rs 227 cr worth order from MoD
 ( Corporate News - 25-Sep-23   14:38 )
  Zen Technologies wins order to supply anti-drone system to MoD
 ( Corporate News - 26-Sep-23   10:02 )
  Zen Technologies Ltd Spurts 7.51%
 ( Hot Pursuit - 05-Aug-19   09:31 )
  Zen Technologies reports net loss of Rs 6.09 crore in the June 2014 quarter
 ( Results - Announcements 11-Aug-14   13:47 )
  Zen Technologies standalone net profit declines 97.83% in the December 2017 quarter
 ( Results - Announcements 03-Feb-18   17:05 )
  Zen Technologies reports standalone net loss of Rs 2.66 crore in the December 2015 quarter
 ( Results - Announcements 06-Feb-16   16:35 )
  Zen Technologies wins orders worth Rs 155 cr from Indian Air Force
 ( Corporate News - 03-Sep-21   10:07 )
  Zen Tech hits 52-week high on bagging IAF order
 ( Hot Pursuit - 03-Sep-21   11:05 )
  Zen Technologies standalone net profit rises 438.82% in the September 2022 quarter
 ( Results - Announcements 13-Nov-22   08:42 )
  ZEN Technologies fixes record date for stock split
 ( Market Beat - Reports 10-Nov-14   13:13 )
Other Stories
  Cipla announces resignation of director
  26-Jul-24   20:08
  Board of Cipla appoints directors
  26-Jul-24   20:07
  Cipla appoints senior management personnel
  26-Jul-24   20:06
  CG Power & Industrial Solutions allots 30,000 equity shares under ESOP
  26-Jul-24   20:04
  Infosys allots 86,477 equity shares under ESOP
  26-Jul-24   20:00
  CG Power & Industrial Solutions announces resignation of Head HR
  26-Jul-24   19:52
  Board of Gujarat Themis Biosyn appoints director
  26-Jul-24   19:50
  Sutlej Textiles and Industries announces change in senior management
  26-Jul-24   19:41
  Technvision Ventures announces cessation of director
  26-Jul-24   19:39
  Cholamandalam Investment & Finance Company appoints Ravindra Kumar Kundu as MD
  26-Jul-24   18:05
Back Top