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 consolidated net profit rises 72.97% in the March 2024 quarter
 ( Results - Announcements 06-May-24   07:28 )
  Zen Technologies Ltd leads gainers in 'A' group
 ( Hot Pursuit - 02-Mar-24   12:00 )
  Zen Technologies plans to set up R&D and manufacturing unit in Goa
 ( Corporate News - 24-Nov-23   18:45 )
  Zen Technologies standalone net profit rises 438.82% in the September 2022 quarter
 ( Results - Announcements 13-Nov-22   08:42 )
  Zen Tech gains on reporting turnaround Q3 numbers
 ( Hot Pursuit - 30-Jan-23   11:21 )
  Zen Technologies to declare Quarterly Result
 ( Corporate News - 23-Jan-23   12:03 )
  Zen Technologies wins contract worth Rs 55 cr
 ( Corporate News - 22-Apr-22   14:22 )
  Zen Technologies standalone net profit rises 31.44% in the March 2020 quarter
 ( Results - Announcements 06-Jun-20   16:28 )
  Zen Tech hits the roof after launching AI powered defense products
 ( Hot Pursuit - 15-Jul-24   11:21 )
  Zen Technologies hits the roof on securing order from Indian Army
 ( Hot Pursuit - 25-Mar-22   09:56 )
  Zen Technologies grants 2.70 lakh stock options
 ( Corporate News - 21-Feb-23   13:29 )
Other Stories
  Wardwizard Innovations & Mobility to form JV in Kingdom of Saudi Arabia
  06-Sep-24   20:16
  Mazagon Dock Shipbuilders wins subsea pipeline replacement project of Rs 1486 cr
  06-Sep-24   20:14
  Ion Exchange wins contract of Rs 168 cr
  06-Sep-24   19:59
  Suzlon Energy acquires majority stake in Renom
  06-Sep-24   19:57
  Nagarjuna Fertilizers & Chem.-New to hold AGM
  06-Sep-24   17:42
  Swan Energy to conduct AGM
  06-Sep-24   17:42
  Asian Star Company to convene AGM
  06-Sep-24   17:42
  MBL Infrastructure to convene AGM
  06-Sep-24   17:42
  Sri Amarnath Finance schedules AGM
  06-Sep-24   17:42
  Hindustan Tin Works to conduct AGM
  06-Sep-24   17:42
Back Top