In a key development for India's defence manufacturing capabilities, the Government of Maharashtra has formalised an agreement with Tembo Defence Products Pvt Ltd, a subsidiary of Tembo Global Industries Limited during the World Economic Forum held in Davos, ANI reported.

As per Tembo Defence Products, the agreement involves a substantial investment of Rs 1,000 crore, aimed at strengthening the state's defence sector. This strategic move is expected to generate 300 new job opportunities, to further mark Maharashtra's position as a significant hub for defence manufacturing.