New Delhi: In consonance with the vision of MoD to achieve defence exports of Rs 35,000 crore by 2025 and provide a boost to the domestic industry, 'Raksha Niryat Ratna' awards were today conferred on Bharat Electronics Limited (BEL) from the public sector and on Indo-MIM from the private sector for achieving highest defence exports in recent years.
Officiating Chairman & Managing Director, Bharat Electronics Anandi Ramalingam received the Award from Defence Minister Rajnath Singh in an event organized at Vigyan Bhawan.

Despite the COVID19 pandemic and semiconductor shortage, the Defence public sector undertaking has witnessed a 9 percent increase in net sales to Rs 14,109 crore and a 15 per cent rise in net profit to Rs 2,099 crore in the FY2021-22 as compared to the previous financial year.

BEL's exports were around $32.26 million and major products exported included Coastal Surveillance System, Trans-Receive (TR) Modules, EO-IR Payload System, Compact Multi-Purpose Advanced Stabilization System (EOS CoMPASS), Solar Hybrid Power Plant, Data Link, Electro-Mechanical parts, Low Band Receivers (LBREC), Medical Electronics and spares for radars.

In November 2021, Airbus signed a deal with BEL under the C295 aircraft programme of the Indian Government for the manufacture and supply of Radar Warning Receiver (RWR) and Missile Approach Warning System (MAWS), and was the biggest export order received to date by BEL.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)