Bengaluru: Defence PSU Bharat Electronics Limited (BEL) and Israel Aerospace Industries (IAI) have concluded a Memorandum of Agreement (MoA) to form a joint venture aiming at a single point of contact for extending long-term product support services for India's defence forces. The announcement was made by Union Minister of State for Defence Ajay Bhat, at Aero India 2023, the ongoing biennial air show and aviation exhibition, at Yelahanka Air Force Station here, a BEL statement said.
The partnership is another significant step in cementing the relationship between the two companies that have a long history of association, it said.
BEL, a 'Navratna' company which is a leading manufacturer of defence electronic products and systems, and IAI, a top aerospace and defence company in Israel, are engaged in several joint programmes for the Indian armed forces.
The new joint venture is being established for providing life cycle support for MRSAM (Medium Range Surface to Air Missile) air defence systems in the country. It will have its headquarters in New Delhi and provide the required technical and maintenance support to the armed forces. MRSAM is an advanced air and missile defence system that provides protection against a variety of aerial platforms, the statement said. It is used by the Indian Air Force, Indian Army, Indian Navy and Israeli Defence Forces.
The system includes an Advanced Phased Array Radar, command and control shelter, mobile launchers and interceptors with an advanced RF seeker. MRSAM is jointly developed by IAI and DRDO in collaboration with India and Israel for India's defence forces. Through this joint venture, IAI reiterates its support to the Indian government's vision of an 'Atmanirbhar Bharat' (self-reliant India).
It also goes a long way in demonstrating the company's commitment to the strong partnership with DRDO in developing and supporting advanced systems for the Indian armed forces, the statement read, adding the cooperation will leverage synergies of both IAI and BEL. Bhat was quoted saying in the statement: "Israel is a very important strategic partner of India and the successful development and deployment of MRSAM system for the Indian defence forces is a shining example of the successful joint collaboration between the two countries."
The joint venture between two prestigious companies from India and Israel will certainly play a very important role as a single point of contact in delivering product support services for MRSAM systems, the minister added. It will be a driving force for the 'Make in India' policy, Bhat said. BEL CMD Bhanu Prakash Srivastava said the top defence PSU considers IAI as a very important strategic partner.
"This joint venture between the two companies is expected to play a pivotal role in ensuring timely product support services for MRSAM systems and enable substantial indigenous workshare with active participation of the Indian supply chain," he said. IAI's President and CEO, Boaz Levy, had said earlier: "Our joint venture with BEL will leverage the best technology, innovation and talent to provide services matching the needs of our customers in India".
"It follows our announcement in 2022 about the opening of Aerospace Services India (ASI), an IAI subsidiary in New Delhi, both of which illustrate our support of the Government's 'Atmanirbhar Bharat' initiative and investment in India," he said. (PTI)
