BEL, HFCL sign MoU to leverage business opportunities across defence, telecom & railway sectors

New Delhi: Bharat Electronics Limited (BEL), a multi-Unit, multi-technology, multi-product Navratna Defence PSU, and HFCL Limited (HFCL), a leading technology enterprise and provider of next-generation communication products, have signed a two-year, non-exclusive memorandum of understanding (MoU) to leverage the strengths and capabilities of both the organisations and partner to indigenously develop and deploy emerging technologies and technical solutions to address the requirements of Defence, Telecom and Railway sectors.

This strategic MoU is envisaged to give a boost to the ‘Atmanirbhar Bharat’ initiative and go a long way in realising the Government's vision of a digital India. 

As part of this MoU, BEL and HFCL shall pursue business opportunities, capitalising on their domain expertise, technological strengths and market presence to enhance the nation’s capabilities in Defence and contribute to the growth of telecommunications infrastructure and other critical, developing sectors. BEL and HFCL shall in this process explore options such as Transfer of Technology and joint production of mutually identified products and solutions.

BEL's Director (Bangalore Complex) Vinay Kumar Katyal said, “As India undergoes a massive digital transformation with the rollout of 5G, rapid adoption of new-age technologies across sectors has become imperative. With this tectonic shift in the telecommunication industry, the Indian Government has prioritised its focus on initiatives such as acceleration of the implementation of 5G network, nationwide fiberisation and promoting participation in the PLI scheme. We believe that our partnership with HFCL will certainly play a crucial role in meeting the Government’s target of building state-of-the-art technology architecture. Our domain expertise in Defence combined with HFCL’s cutting-edge solutions will enable us to actively contribute to the Government's vision of a digital India and help establish India as a prominent global manufacturing hub.”

Elaborating on the strategic partnership, HFCL's Managing Director Mahendra Nahata said, “We are honoured to enter into this strategic alliance with one of India’s largest DPSUs, Bharat Electronics Limited, and extend our support to the Government’s 'Make in India' initiative. Under the MoU, both the organisations will leverage their combined leadership and expertise in developing and manufacturing innovative products, solutions and technological capabilities to address the opportunities across sectors including Defence, Telecom and Railways. With our strong focus on R&D, we aim to strengthen India’s Defence capabilities and make India a global manufacturing hub for Defence, Telecom, communication and networking products.”

(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.)