The Ministry of Corporate Affairs (MCA) has given the green light to a new joint venture between Bharat Electronics Limited (BEL) and Israel Aerospace Industries Limited (IAI).
This partnership, officially named "BEL IAI AeroSystems Private Limited," will focus on providing crucial product support for the Medium-Range Surface to Air Missile (MRSAM) system currently deployed in India. This includes essential services such as repair and maintenance, ensuring the system's continued operational readiness.
BEL, a leading Indian defence electronics company, will hold a 40% stake in the joint venture, with IAI holding the remaining 60%. The venture is expected to significantly enhance the efficiency and responsiveness of MRSAM support within India, leveraging the combined expertise of both companies.
The partnership extends beyond maintenance, with expectations that it will drive technological advancements and contribute to the overall growth of India's defence sector. Both companies are anticipated to collaborate on research and development, potentially leading to new innovations in defence technology.
While the MCA has granted its approval, the joint venture still awaits the final nod from the Ministry of Defence in India and the Committee of Ministries for Social & Economic Affairs in Israel.
The MRSAM system itself is a product of a previous collaboration between IAI and India's Defence Research and Development Organisation (DRDO). This advanced air and missile defence system is designed to neutralize a variety of aerial threats, and is currently deployed by the Indian Air Force, Army, and Navy.
