Mumbai: Engineering major Larsen & Toubro (L&T) on Wednesday signed a memorandum of understanding (MoU) with state-run Bharat Electronics (BEL) to cater to the needs of domestic and export markets for defence products and systems.
The MoU seeks to leverage the capabilities of both the firms for meeting the growing requirements of the Indian armed forces, the company said in a statement issued in Mumbai. Through this agreement, both the companies intend to leverage their well-developed supply chain, vast experience and expertise to synergise and enhance exports in the defence sector, it added.
“This MoU offers an opportunity for public-private sector partnership between two industry leaders in defence equipment and systems to synergise their strengths to deliver to the Indian armed forces and to the export market contemporary products with high indigenous content," said Jayant Patil, whole-time director (defence) and member of board, L&T.
L&T and Bharat Electronics have collaborated and partnered on co-development and production of major sub-systems involving complex technologies and sophisticated weapon systems such as Akash Missile launchers and other radar platforms for the ministry of defence (MoD) orders.
L&T has been delivering a range of launcher systems, fire control systems and airframes/sub-systems for various indigenous weapon programmes as development partners and production agency to the Defence Research and Development Organization (DRDO) and defence public sector undertakings.
“By synergising L&T’s manufacturing, system design and integration capabilities and extensive global footprint with Bharat Electronics’ core competencies in electronic equipment and systems, the companies look forward to enhancing their product range, jointly evolve new products and enhance business prospects," said Patil.