Bharat Electronics Ltd (BEL) has won export orders worth about $52 million this month, besides large volume contracts from the government.
BEL, in a stock exchange filing on Friday, said the orders are for supplying communication equipment, electronic assemblies, micro modules and mechanical parts to customers in France, Israel and the US, among other countries. “This shows overseas interest in BEL and Indian industries,” the navratna PSU said. BEL will come out with its results on Saturday, said leading defence PSU sources.
BEL bags 28 MoD contracts, worth ₹16,750 crore, in March 2023. Electronic Warfare Systems, Fire Control Systems, Medium Power Radars & Weapon Locating Radars among prominent equipment.
Also read: MoD signs contracts worth ₹32,000 cr for procurement of vessels, missiles, radars and gun systems
Last November, BEL got an export order of $93.15 million for manufacture and supply of radar warning receivers and missile approach warning systems for Airbus Defence and Space, a European global pioneer in the aerospace industry. The order was part of Airbus’ offset commitment to the Indian government following the September 2022 deal for 56 C295 transport aircraft for the Air Force.
BEL and Thales Reliance Defence Systems (TRDS) inked a frame supply agreement at Aero India 2023, held at Bengaluru in February, for manufacture and supply of TR modules and micro modules of radars used in the Rafale fighter jets. This again was an offshoot of the offset commitment under a contract India signed with French company Dassault for acquisition of 36 Rafale aircraft.
The government is banking on indigenous industry, both private as well as PSUs, to achieve the export target of Rs 40,000 crore by 2026. Defence Minister Rajnath Singh on Thursday said defence exports have jumped manifold from Rs 900 crore seven-eight years ago, to Rs 14,000 crore in FY 2022-23.
The government’s move for self-reliance in the defence sector is paying off for the domestic arms manufacturing industry. In the last two days alone, the Defence MInistry has signed four contracts worth Rs 5,084 crore with BEL for supply of military equipment to the armed forces.
For instance, in one of the two deals inked on Thursday, the Ministry will procure 13 Lynx-U2 Fire Control Systems for Indian Naval warships at a total cost of over Rs 1,700 crore. It will also supply the weapon locating radar “Swathi” (Plains) for Rs 990 crore, the ministry had announced on the previous day.