BrahMos Aerospace has grown just over 30 times from a initial investment of Rs 1,300 crore to an turnover of around Rs 40,000 crore, Zee News reports. The company was formed in 1998 to build supersonic cruise missiles between the India’s Defence Research and Development Organisation (DRDO) and Russia's NPO Mashinostroyeniya.
The supersonic cruise missiles can be launched from all the three platforms of land, air and ships and submarines. BrahMos Aerospace CEO and Managing Director Sudhir Mishra feels a need of more joint ventures between India and Russia in more sectors, on the lines of BrahMos.
"This collaboration has resulted in business worth Rs 40,000 crore and our initial investment was only Rs 1,300 crore. So, certainly, we feel that we created wealth and environment and till today we have given back to the Government of India more than Rs 4,000 crore in terms of taxes, directly and indirectly," Mishra said.
Currently, BrahMos Aerospace has over 200 industries as business partners and another 20,000 people employed both directly and indirectly due to the venture, Mishra added.