BEL Inks MoU With Israel Aerospace Industries: Bharat Electronics Limited (BEL), a Navratna Defence PSU, and Israel Aerospace Industries (IAI), Israel’s leading aerospace and defence company, recently signed a Memorandum of Understanding (MoU) to strengthen cooperation in addressing India’s requirements in the domain of Short Range Air Defence Systems. The Memorandum of Understanding was officially signed in Bengaluru.
Daily Current Affairs Quiz: September 2023
Strengthening a Long-standing Partnership
The partnership between BEL and IAI is not a new development; these two entities share a long history of association. They have worked on a variety of collaborative development, production, and product support programmes for the Indian Defence forces. This MoU is yet another milestone in their relationship, signalling their determination to strengthen their synergy even further.
Aligning with India’s Policy Initiatives
The MoU between BEL and IAI aligns perfectly with the ‘Atmanirbhar Bharat‘ (Self-Reliant India) and ‘Make in India‘ policies of the Government of India. These policies emphasize the importance of domestic manufacturing and self-sufficiency in defense capabilities. By pooling their strengths and expertise, BEL and IAI aim to contribute significantly to these national objectives.
IAI’s Aerospace and Defense Innovations & BEL’s Self-Sufficiency in Defense Electronics
IAI, known for its exceptional capabilities in aerospace and defense technologies, caters to both defense and commercial markets. IAI offers a wide range of solutions, including space technology, unmanned aerial vehicles (UAVs), missiles, intelligence solutions, air defence systems, radars, and more. BEL was established to strengthen India’s self-sufficiency in the field of Defense electronics. It manufactures cutting-edge equipment and systems for a wide range of industries, including radar, missile systems, military communications, and naval systems. The company’s expansion ventures extend into non-defense sectors, encompassing electronic voting machines, homeland security and smart cities, satellite integration & space electronics, as well as cybersecurity.
Key takeaways for competitive examinations
- Chairman & Managing Director of BEL: Bhanu Prakash Srivastava
- President and CEO of IAI: Mr. Boaz Levy
- Bharat Electronics Limited founded in: 1954
- Israel Aerospace Industries founded in: 1953