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Punj Lloyd Ltd has established a 51:49 joint venture with Israel Weapon Industries (IWI) to produce firearms in India. IWI has already supplied weapons such as the Tavor assault rifle and Uzi submachine gun to security forces in India, and is an established player in the field. The JV will initially manufacture components for export to Israel, where they will be finished and assembled. The second phase will see complete guns made in India to meet domestic demand.