India’s BEL moves to establish radar JV with Thales

[Abingdonboy]

India’s BEL moves to establish radar JV with Thales in line with MMRCA requirements



India’s state-run Bharat Electronics Limited (BEL) has moved to establish a joint venture (JV) with French firm Thales to develop and produce radars for the Indian defence market. The JV has been under consideration for several years, although renewed impetus is likely to have been provided by India’s selection earlier in 2012 of the Dassault Rafale for its Medium Multi-Role Combat Aircraft (MMRCA) programme

India’s BEL moves to establish radar JV with Thales in line with MMRCA requirements | Odin Flight

 

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Bharat Electronics and Thales boards approve formation of new joint venture company

BANGALORE: State-owned public sector undertaking Bharat Electronics Ltd (BEL) has entered into a joint venture with French defence major Thales, the Bangalore-based undertaking announced on Wednesday.

The boards of both companies have approved the formation of a new joint venture company, subject to statutory approvals, which will focus on design, development, marketing, supply and support of civilian and select defence radars for Indian and global markets, according to a press statement released by BEL.

As mandated by the Foreign Investment Promotion Board (FIPB), Thales will have a 26% stake in the combined entity, the maximum allowable holding interest by a foreign company, with BEL owning 74% of the company's stock.

"The parent companies aim at making the joint venture company a centre of excellence with the ability to offer solutions specifically aimed at meeting the needs of both Indian and export customers," according to the press release.

Thales has had a significant presence in India, and is a major supplier to Dassault's Rafale, which has been shortlisted for the Indian Air Force's $11 billion Medium Multi-Role Combat Aircraft competition (MMRCA), which is currently in its final stages.

Separately, the French defence major is also involved in the Indian Air Force's $2 billion Mirage-2000 fighter upgrade programme.

 

[Indian Tiger]

An awesome news really... JV with Russia already, now with France too... Cheers!!!