The Bharat Electronics Ltd (BEL) and Rosoboronexport (part of Rostec State Corporation) have signed a memorandum of understanding (MoU) today, under which the two will cooperate for the joint development of various subsystems of major defence projects under the offset clause of the Defence Procurement Procedure (DPP). The industrial tie-up will cater to the requirements of all the three arms of the Indian defence forces as well as the civilian sector.
The MoU will also give a boost to BEL’s long-standing association with Russia and will go a long way in furthering the ‘Make in India’ initiative of the Government of India. “BEL is very happy to join hands with Rosoboronexport in taking up the design and development of state-of-the-art products and systems for various strategic programmes of the Ministry of Defence,” said P.C. Jain, Director (Marketing), BEL.