MUMBAI: Defence sector will emerge as the largest business for the Reliance Group, with its arm Reliance Infrastructure targeting a total business opportunity of Rs. 2.85 lakh crore in the next three to five years, said chairman Anil Ambani In 2016, the group acquired Pipavav Defence and Offshore Engineering, making its foray into the defence sector, driven by the Narendra Modi government’s ‘Make in India’ and ‘Skill India’ initiatives that offer a bigger opportunity to the private sector."There are opportunities worth Rs.15 lakh core over the next 15 years in the defence sector across Air Force, Navy, Army and integrated security. That means there is a business opportunity of Rs.1 lakh crore per annum in the Indian defence sector ,” Ambani told about 80 analysts from different brokerages late evening on MondayHe said, in a first analyst meet for the group’s defence business, that he sees ahuge opportunity for private companies, since India currently imports 70 per cent of its requirement in value terms, having accounted for 14% of the global defence imports in 2016."Overall, India offset opportunities are in excess of Rs.77,000 crore, with peak obligation of Rs.10,000 crore in 2018. This is a big playing field for the Indian private sector," Ambani said."Contrary to the general perception, defence is a low capital business with high turnover." Reliance Defence and Engineering (RDEL), part of Reliance Infrastructure, has more than 2,000 employees, including 200 people in the management team. The company’s current order book includes five naval offshore patrol vessels; one cadet training ship; refits of naval ships Jamuna, Savitri and Deepak; offshore supply vessels for ONGC; two oil rigs; one Panamax bulk carrier; and 14 fast patrol vessels. These orders are to be delivered by January 2021.Besides, RDEL has submitted bids for two programmes of Indian Navy with a combined value of Rs. 30,000 crore. The bids for these projects are expected to open in the next two months.