Dassault Aviation, Reliance in defence pact

Mumbai: Reliance Industries and France’s Dassault Aviation have signed a pact for partnering in the defence and homeland security sector in Asia’s third-largest economy, a spokesman for the Indian conglomerate said on Sunday.

India is the world’s largest arms importer with plans to spend $100 billion on weapons over the next decade.

Reliance Industries, India’s most-valuable company, did not give any further detail on the tie-up with the French company.

Controlled by Mukesh Ambani, the world’s ninth-richest man, Reliance Industries has been looking to diversify as growth in its core oil and gas business slows. The company has expanded into newer sector such as retail and telecom in recent years.