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BEL wins €25.75 million order from TRDS for TR module production
Industry News- Jul 15,24
It also announced additional orders valued at Rs 1.92 billion for communication equipment, encryptors, spares, and services for radars and fire control systems, bringing its total orders for the current financial year to Rs 52.25 billion.
State-owned aerospace and defence electronics company Bharat Electronics Limited (BEL) has secured an export order worth €25.75 million from Thales Reliance Defence Systems (TRDS) for the production and supply of transmit-receive (TR) modules, which will be utilised in fighter aircraft radars. BEL also announced additional orders valued at Rs 1.92 billion for communication equipment, encryptors, spares, and services for radars and fire control systems, bringing its total orders for the current financial year to Rs 52.25 billion.
India's defence manufacturing sector is experiencing robust growth, driven by increasing exports and government initiatives aimed at promoting self-reliance. The central government has set an ambitious target of achieving indigenous defence manufacturing worth Rs 1750 billion, including defence exports of Rs 350 billion by the 2024-25 fiscal year. This growth is supported by various policy reforms and substantial investments in defence and aerospace manufacturing, with multiple defence hubs being established.
India's defence exports reached a record Rs 210.83 billion in the 2023-24 financial year, marking a 32.5% increase from the previous fiscal year and a 31-fold increase compared to 2013-14. The total value of defence production in India also rose by 17% to Rs 1,268.87 billion last fiscal year, highlighting the significant expansion of the sector.
(Source: ET)
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