Wednesday, May 18, 2022

BEL is now set to enter civil aviation market with this MoU with AAI

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New Delhi: In a move that could provide a major boost to the civil aviation industry, the Airports Authority of India (AAI) has entered into a memorandum of understanding (MoU) with Navratna Defence PSU Bharat Electronics Limited (BEL), under which a platform for both the companies to collaborate and support each other to address the emerging global opportunities in the airport business, including those in the Asia Pacific region, will be formed.

"ln furtherance of such cooperation, AAl, playing the role of a development partner, will render assistance to BEL in its domain of expertise to enable execution of the prestigious MEA projects outside India by BEL. Both the organisations will work in close co-operation with each other in the field of civil aviation, in both present and future projects handled by BEL," said BEL said in a statement released on Tuesday.

The MoU has been signed by AAI's General Manager (Business Development) Sanjai Kumar Singhal and BEL's Executive Director (National Marketing) Manoj Kumar at the AAI's Corporate Headquarters in New Delhi on Tuesday, in the presence of AAI's Chairman Arvind Singh, BEL's CMD MV Gowtama and the senior management of both the organisations through video conferencing.

Addressing experts from both the sides, the AAI Chairman exuded optimism that the partnership between the two organisations would prove to be a game-changer in the Indian aviation sector in the years to come. He also said that the manufacturing of Communication, Navigation & Surveillance (CNS) equipment in India will reduce the cost substantially and will save foreign exchange outflow, paving the way for an” Atmanirbhar Bharat.”

While BEL's CMD affirmed that the MoU would provide for synergy of capabilities of both the organisations in their respective domains, leading to mutually beneficial and lasting solutions in the ever-growing field of aviation. He also said that with the skills and expertise of AAI, BEL is hopeful of entering into the domestic civil aviation market as well into the South-East Asian, African and Latin American civil aviation markets.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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