Bharat Electronics Limited (BEL), a public sector company, on Wednesday stated that it had received orders worth ₹1,155 crore in two different deals.
The defence manufacturer has received an order worth ₹850 crore from Cochin Shipyard Limited (CSL) to supply indigenous multi-function X-Band radar.
BEL also received orders worth ₹305 crore for a navigational complex system for ships, thermal imagers, communication equipment, fire control and gun control systems, spares, and services, the company said in a stock filing on Wednesday.
The fully indigenous radar will be designed by Defence Research and Development Organisation (DRDO) and manufactured by BEL. It is capable of detecting, acquiring and tracking airborne targets to provide protection to naval ships.
“BEL has secured an order worth Rs. 850 Cr from Cochin Shipyard Limited for supply of indigenous Multi Function Radar in X Band. Additionally, following its last disclosure on Aug 22, 2024, BEL has secured orders worth Rs. 305 Cr,” the PSU informed on X.
Following these two orders, BEL now has orders up to ₹7,075 crore in the current fiscal year, according to the stock filing.
The government has set the target of achieving indigenous defence manufacturing valued at ₹175,000 crore. This will include defence exports up to ₹35,000 crore in the current fiscal year.
The government has taken several policy initiatives in the past few years to promote indigenous defence manufacturing.
The total value of defence production in the country was ₹126,887 crore, a 17 per cent increase from the previous fiscal year.
India's defence exports were valued at ₹21,083 crore in FY24, reporting a growth of 32.5 per cent from the previous financial year. The defence exports were valued at ₹15,920 crore in FY23. According to the government, defence exports have grown by 31 times in the last 10 years.
