02 June 2017

News Story: Bharat Electronics forecasts $1.5B in sales as India boosts domestic production

By: Vivek Raghuvanshi

NEW DELHI — India's state-owned defense electronics enterprise Bharat Electronics Ltd., BEL, has increased sales by 17 percent in fiscal year 2017, according to Venkateswara Gowtama Mannava, chairman and managing director. 

“The company has projected the sales to grow from the current level of $1.35 billion to $1.54 billion next year,” Gowtama said. 

He added, “BEL will create new business partnerships with both domestic and overseas defense companies and enforce quick decision making within the company in order to remain competitive in the Indian defense market.”  

The market will become much stronger, he said, because the government has made much quicker decisions and the (procurement) cycle time is shorter. Many of the pending cases have been resolved. 

The list of weapons projects executed for the Indian defense forces include the short-range surface-to-air missile system Akash, a handheld thermal imager with laser range finder systems, a 3-D tactical control radar, a weapon locating radar, upgraded L/70 air defense guns, fire control systems, hull mounted sonars, radio relays systems, major sub-systems of integrated air command and control systems and ship-borne electronic warfare systems. 

Gowtama announced that the company has an order of $6.15 billion. "There is no vertical where we do not have an order at this point of time," he said. 

Read the full story at DefenseNews