In the pursuit of advancing the Defence Sector through the ‘Make in India’ initiative, the Indian Coast Guard (ICG) held deliberations with Swedish marine engine maker, Marine Jet Power (MJP).
The Indian Coast Guard has persistently aimed at the indigenisation of spares for foreign-origin equipment installed onboard ICG ships in partnership with Original Equipment Manufacturers (OEM).
Over the past year, extensive discussions regarding propulsion systems have unfolded.On February 14, 2024, Jonas Tegstrom, the CEO of Marine Jet Power (MJP) Sweden, visited the Indian Coast Guard Headquarters in New Delhi to reaffirm his company’s commitment to enhancing indigenous content in waterjet systems.
With over 100 Waterjet systems currently deployed in the ICG fleet, the agreement between MJP Sweden and MJP India is poised to significantly boost Indigenous Content (IC) and facilitate the skill development of the local workforce.
During the visit, he announced a “Trademark License for Manufacturing & Transfer of Technology Agreement for Marine Waterjets” between MJP Sweden and MJP India.The CEO and MD of MJP India outlined plans for phased manufacturing of waterjets in India under the technological collaboration with MJP Sweden, aimed at progressively building the capacity and capability for complete waterjet production domestically.
Furthermore, the firm aims to achieve up to 53 per cent local manufacturing and sourcing of spares & components by 2026.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Feb 17 2024 | 6:02 PM IST
