Licence to manufacture bullet proof vehicles and UAVs received by DCM Shriram Industries
A licence was given to the DCM Shriram Industries on Thursday by the government to manufacture bullet proof vehicles, around 3,500 unmanned aerial vehicles (UAVs) and other products annually .
An unmanned aerial vehicle (UAVs) also known as a drone is an aircraft that does not have a human pilot aboard. It is operated mainly with the help of a remote control by a human operator or by onboard computers autonomously.
Licence to manufacture around 3,000 bullet vehicles and other vehicles such as specialist vehicles and multi-role vehicles per year has been given to the city-based DCM Shriram Industries.
The company further informed in its regulatory filing that the Arms Licence Authority which is under the Department of Industrial Policy and Promotion (DIPP) has given the company an ‘industrial licence’ that will last for a life time.
The filing added, “Though the fructification of the licences to the product launch would require various steps including trails of proto-types and receipt of firm order, and the materiality of the effect of the projects of the company’s operations cannot be determined at this stage.”
The company also received a licence to manufacture 500 unmanned aerial vehicles (UAVs) with ground control stations, launchers and ground data terminal.
The DCM Shriram Industries is a company that is based in Northern India and deals with businesses of industrial fiber, fine chemicals, rayon tyrecord, and sugar. The stock price of the company rose by 8.61 percent to Rs. 148.25 a piece. Along with having a strong hold on technology, it also shows a strong commitment towards social and environmental problems.