Bharat Electronics Limited
Bharat Electronics Limited (BEL) is a multi-technology, multi-product, multi-unit conglomerate under the Ministry of Defence, Government of India, and engaged largely in the design, development, manufacture and support of defence electronics products and systems to the Indian Armed forces.
India is one of the most lucrative defence markets, globally. India also offers huge export potential and outsourcing opportunities on account of cost competitiveness. Today, India is the 4th largest defence spender in the world and the largest importer of defence equipment accounting for 14% of the world’s total defence import (IHS/SIPRI). Around 65% of India’s defence needs are met through imports.
The government has been taking several initiatives to reverse the trend of imports and build a strong indigenous defence industry with substantial private sector participation through continuous evolution of Defence Procurement Procedures (DPP), Make in India campaign, increase in FDI limit, a number of measures for ease of doing business like liberalisation in Industrial Licensing, new export norms, speedy clearance of JVs by DPP, new blacklisting policy, etc.
BEL has been taking several proactive steps to increase its market share in the defence business in the emerging scenario with enhanced thrust on R&D, strategic alliances including joint ventures with reputed OEMs, modernisation/expansion of facilities, organisational restructuring and diversification into allied areas.
