According to market sources, Jhunjhunwala will acquire a significant minority stake in Pipavav.
While many are sweating in the current environment, Rakesh Jhunjhunwala's portfolio has done well and seen new additions.
Indian engineering and maritime groups have lined up an estimated Rs180bn
Anil said the company is in the process of signing a contract with the Indian Coast Guard for the first defence order for 14 fast patrol vessels
Warship building projects worth at least Rs 630 billion have ground to a standstill. The defence ministry has halted tendering in wait for a government decision on whether to allow, or to exclude, Anil Ambani's shipbuilding firm from those contracts.
Insufficient technology has been transferred during the ongoing Project 75, which involves building 6 Scorpene-class submarines.
These next generation ships can patrol the oceans for three or four months compared to the navy's current patrol boats, which can be at sea for a maximum of 45 days.
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
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Barring one, three are debt-free and sitting on large cash reserves.
The success of Anil Ambani's ambitious defence plan will depend partly on whether he can persuade government officials and international partners that he can build sophisticated equipment and partly on whether the PM can get India's notoriously slow procurement process to work, say Paritosh Bansal, Sanjeev Miglani and Promit Mukherjee.
The navy's plan to build three Russian Talwar-class frigates has a less than wholesome odour.
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The nomination of cluster heads for defence, infrastructure and finance business is awaited.
'With Pakistan's 'first use doctrine' threatening the use of nuclear weapons early in a war with India, the S-400 will shield vulnerable targets like Delhi and Mumbai, complicating Pakistan's targeting calculations.'
'What should worry India and which needs to be expressed is Russia's simultaneous proximity to both China and Pakistan from a strategic angle. That hasn't happened ever before,' says Lieutenant General Syed Ata Hasnain (retd).
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