Key Points of Indian MoD Signs Deal With BEL:
- The Ministry of Defence has announced a new contract with Bharat Electronics Limited (BEL) for the procurement of a fire control system for the navy.
- The contract is worth ₹1,700 crore and is expected to generate 200,000 man-days of employment for BEL over the next four years.
- This announcement comes as part of a series of deals concluded in March, ahead of the end of the financial year 2022-23.
- The defence ministry also recently signed three contracts worth ₹5,400 crore for an advanced communication satellite, an automated air defence control and reporting system, and electronic support measure systems for navy helicopters.
- In the past four weeks, contracts worth more than ₹21,000 crore have been signed for various indigenous military hardware, including basic trainer aircraft, cadet training ships, medium-power radars, radar warning receivers, and Dornier aircraft.
- India has allocated 68% of the military’s capital acquisition budget for 2022-23, amounting to ₹84,598 crore, for purchasing locally produced weapons and systems to boost self-reliance in the defence sector.
- The government aims to achieve self-reliance targets and ramp up the country’s defence exports by allocating 75% of the defence capital procurement budget for 2023-24 for buying military hardware from local manufacturers.
- The government has taken several measures to promote self-reliance in the defence manufacturing sector, including increasing foreign direct investment (FDI) from 49% to 74% and identifying hundreds of weapons and systems that cannot be imported.
Details of Indian MoD Signs Deal With BEL:
The Ministry of Defence has announced a new contract with Bharat Electronics Limited (BEL) for the procurement of a fire control system for the navy. The contract is worth ₹1,700 crore and is expected to generate 200,000 man-days of employment for BEL over the next four years. This announcement comes as part of a series of deals concluded in March, ahead of the end of the financial year 2022-23.
The defence ministry also recently signed three contracts worth ₹5,400 crore for an advanced communication satellite, an automated air defence control and reporting system, and electronic support measure systems for navy helicopters. In the past four weeks, contracts worth more than ₹21,000 crore have been signed for various indigenous military hardware, including basic trainer aircraft, cadet training ships, medium-power radars, radar warning receivers, and Dornier aircraft.
India has allocated 68% of the military’s capital acquisition budget for 2022-23, amounting to ₹84,598 crore, for purchasing locally produced weapons and systems to boost self-reliance in the defence sector. The government aims to achieve self-reliance targets and ramp up the country’s defence exports by allocating 75% of the defence capital procurement budget for 2023-24 for buying military hardware from local manufacturers.
The government has taken several measures to promote self-reliance in the defence manufacturing sector, including increasing foreign direct investment (FDI) from 49% to 74% and identifying hundreds of weapons and systems that cannot be imported. Additionally, a separate budget has been created for buying locally made military hardware.
In summary, the latest contract signed between the Ministry of Defence and Bharat Electronics Limited will contribute to the growth of the indigenous defence industry and generate significant employment opportunities. The government’s efforts towards promoting self-reliance in the defence manufacturing sector are expected to boost the country’s defence exports and make India a major player in the global defence market.
About BEL:
Bharat Electronics Limited (BEL) is an Indian state-owned enterprise that specializes in developing advanced electronics for aerospace and ground applications for the defense sector. The Ministry of Defence in India oversees BEL, which is categorized as one of nine Public Sector Undertakings (PSUs).
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