L&T to make defence products with BEL
Thursday, 12 April 2018, 17:21 IST
Larsen & Toubro (L&T) announced it would manufacture defence products and systems for domestic and export markets in partnership with the state-run Bharat Electronics Ltd (BEL).
"In line with the government's efforts to indigenise the defence sector under the 'Make In India' initiative, we have signed an agreement with BEL to make defence products and systems for the domestic and export markets," said the Mumbai-based L&T in a statement here.
Through the tie-up, the companies seek to leverage their capabilities to meet the growing requirements of Indian armed forces, it added.
The partnership aims to tap the well-developed supply chain and experience of Bengaluru-based BEL and L&T to enhance exports in the defence sector.
"The agreement gives an opportunity for public-private partnership in defence equipment and systems and thereby export market products with higher indigenous content," said L&T's Director, Defence, Jayant Patil in the statement.A
The two firms have earlier partnered for the production of sub-systems of the weapon systems like Akash Missile launchers, among others.
Read more news:
Mahindra Electric, Zoomcar partner to offer 100 EVs in Delhi
March domestic passenger car sales up 0.44%: SIAM