Reliance Industries Ltd (RIL) is planning to invest close to $1 billion over the next few years and hire around 1,500 people in its new aerospace division.

Early this month, the Mukesh Ambani-led company applied for an industrial licence with the Department of Industrial Policy and Promotion to "design, develop, manufacture, equipment and components, including airframe, engine, radars, avionics and accessories for military and civilian aircraft, helicopters, unmanned airborne vehicles and aerostats".

This decision by RIL comes after the creation of two new entities: Reliance Aerospace Technologies Pvt Ltdand Reliance Security Solutions Ltd.

Details of RIL's plans were confirmed to ET by executives close to the matter who spoke on the condition of anonymity.

The creation of these new businesses was set in motion more than a year ago when RIL created an entity called "new business" and hired the then BoeingIndia chief, Vivek Lall, for launching its aerospace and homeland security divisions.

The application with DIPP further discloses that "the company will also undertake research and produce new aerospace technologies, materials, components and equipment and test and carry out their certification".

RIL will also join hands with global players to bring in sophisticated civil and military aerospace technologies into the country, executives close to the matter said. It will also prioritise research and development and testing and certification of new aerospace technologies, materials, components and equipment.

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