Navratna Defence Public Sector Undertaking Bharat Electronics Limited (BEL) and Thales announced that the Ministry of Corporate Affairs, Government of India, has approved the incorporation of their joint venture company, BEL-THALES Systems Ltd. This joint venture company will primarily focus on the design, development, marketing, supply and support of civilian and select defence radars for India and the global markets.
BEL holds a 74 percent stake while Thales holds 26 percent of the equity in the joint venture company. The initial product portfolio of BEL-THALES Systems Ltd. will comprise innovative solutions for air surveillance, including air traffic management radars, and select ground-based military radars. The ultimate objective of the joint venture company is to expand its scope in other fields than radars, in the defence electronics domain.
BEL-THALES Systems will seek to work closely with Government laboratories and the Indian industry and will consequently become a decisive contributor for innovation in various fields of defence electronics.
Expressing his confidence in the joint venture, S. K. Sharma, chairman and managing director of BEL, said, “We have always valued our partnership with Thales. We are confident that our joint venture company will benefit from the significant technology transfers and support from Thales, and from the extensive industrial and design skills of BEL.”
Commenting on the joint venture, Eric Lenseigne, managingdirector of Thales in India, said, “The incorporation of this joint venture company marks an important milestone in our 60 year-old association with BEL, and takes it to the next level. We will constantly support BEL-Thales Systems to become a centre of excellence, offering solutions specifically aimed at meeting the needs of both Indian and export customers – in line with the government’s ‘Make in India’ approach.”