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Carbine deal a benchmark to invest in India, says UAE arms firm Caracal

UAE's state-owned arms manufacturer firm keen to set up facilities. The CAR family CQBs displayed at Idex 2019 The deal for 93,895 Close Quarter Carbines (CQBs) for the Indian Army, for which United Arab Emirates (UAE)’s government-owned small arms manufacturer "Caracal"  was shortlisted, is like a “benchmark” for UAE industry and they are watching closely on further investments in the Indian market, said Hamad Salem Alameri, Chief Executive Officer (CEO) of Caracal. “Once this first contract moves, lot of sister companies within the group will see this as a success story and people will have the confidence to come and invest in India,” Mr. Alameri said. He said this was the most important message that everyone is looking at and people are willing to come and invest in India and create jobs with the blessings of the two governments. However, while Caracal was shortlisted two years back, the final deal has been delayed and recently an in-principle decision was taken in th...