BEL Secures Rs 1,155 Crore Orders, Bolsters India's Defence Manufacturing

Bharat Electronics Limited (BEL) has secured orders worth Rs 1,155 crore, including Rs 850 crore for indigenous Multi Function Radar, elevating its total orders to Rs 7,075 crore this financial year. The Indian government aims for significant growth in indigenous defence manufacturing by 2024-25.

State-owned Bharat Electronics Limited (BEL) announced on Wednesday that it has secured orders valued at Rs 1,155 crore in two separate deals. Among these, BEL received an order worth Rs 850 crore from Cochin Shipyard Limited (CSL) for the supply of indigenous Multi Function Radar in the X Band.

This radar, designed by the Defence Research and Development Organisation (DRDO) and manufactured by BEL, is designed to detect, acquire, and track airborne targets, providing protection to naval ships. Additionally, BEL secured Rs 305 crore in orders for navigational systems for ships, thermal imagers, communication equipment, and other defence systems, as per the company's stock exchange filing.

With these latest deals, BEL's orders have accumulated to Rs 7,075 crore for the current financial year. Shares of Bharat Electronics have performed well over the past months, nearly doubling in the last 12 months, driven by a series of new orders.

The Indian government aims to achieve indigenous defence manufacturing worth Rs 175,000 crore, including Rs 35,000 crore in exports, by the year 2024-25. Multiple policy initiatives and reforms have been implemented to foster self-reliance in defence manufacturing.

The government's investment in defence and aerospace manufacturing has led to the establishment of several defence hubs. Many global companies have shown interest in sharing critical defence and aerospace knowledge with India. In FY 2023-24, India's defence exports hit a record Rs 21,083 crore, reflecting a 31-fold increase from ten years ago.

Defence production in India saw a 17% rise, reaching Rs 126,887 crore last fiscal year (ANI).

(With inputs from agencies.)