Bharat Electronics, Israel's Rafael sign missile deal

Bangalore-based Bharat Electronics has signed a memorandum of understanding with Israel's defence equipment maker Rafael Advanced Systems for making missile electronics and missile guiding systems for India's military, a senior company official said.

"By Wednesday, we hope to sign MoUs with a couple of more companies for warfare electronics and avionics equipment," the official said.

Rafael's Communications Manager Gila Harel said, "Rafael and BEL have agreed to form a joint venture for missile electronics, but the details of the joint venture will be worked out after the defence expo is over."

Rafael has already been supplying India with missiles like surface-to-surface Barak missile and the air-to-air Derby missile.

Bharat Electronics is imparting major thrust on electronic warfare and network-centric systems besides looking at some acquisitions to expand its portfolio in defence software.

"Radar communications systems, which accounted for about 90 per cent of our turnover today make for only half."

We are increasing our focus in defence software and looking for acquisitions in this business," the company official said.