Bharat Electronics to enter defence portfolio

Bharat Electronics Limited today said it planned to diversify its portfolio with 70% focus on the defence sector and 30% on sectors with future market opportunities for growth, including homeland security, infrastructure and e-governance.     

"BEL is taking proactive steps to protect and further consolidate its leadership position in the Indian Defence sector while accelerating efforts to get into new business areas", company CMD V V R Sastry told reporters here.     

The company had appointed KPMG consulting firm to identify new growth opportunities. BEL was looking at avenues like energy efficiency solutions, nuclear power instrumentation and was in discussion with reputed foreign and Indian players for forming joint ventures in areas of defence electronics.     

It was exploring joint venture opportunities in the field of missile electronics and guidance system, microwave super components and airborne EWs. "Some of these proposals are in the advanced stages of finalisation", he said.     

An MoU had been signed with the Hyderabad-based firm m/s Astra Microwave Products Limited for microwave components. Another pact had been inked with Boeing to jointly develop an analysis and experimentation centre in India to offer customers the ability to make better informed decisions on modernising the country's defence forces. MoU had also been signed with SELEX Galilieo.     

MoUs had also been signed to explore formation of joint venture for solar photovaltic business. BEL had been selected as offset business partners by multinational companies like Boeing, Lockheed Martin and Northrop Grumman.