The export sale till February 29, 2016, is about USD 78.36 Million surpassing the target of USD 65 Million for the year 2015-16. BEL is expected to touch about USD 85Million by March 2016.
Major programs being executed during the year include Naval Surveillance Radars to Myanmar, TI Fire Control Systems to Israel, Electro Mechanical parts to GE & Siemens, among others.
The present business environment in Defence equipment manufacturing is changing as MoD is encouraging greater participation of private companies in defence manufacturing. The increase in FDI limit to 49% will also help foreign players to set up joint ventures with Indian industry.
Several strategies have been adopted by the Company to face competition and have been reasonably successful. Further, the Company has to work continuously on various fronts to achieve the competitive advantage.
As a diversification strategy, BEL has been exploring opportunities in allied defence and non-defence areas for enhanced business growth, leveraging its strengths and capabilities acquired in the Defence Electronics domain.
In the last decade, BEL has entered into several new business areas as part of diversification efforts and has resulted in substantial business. Further, efforts are on to enter into areas like Indigenous SAM systems, Airborne Radars, Image Intensifier tubes and Thermal Imaging detectors for Night Vision Devices, Inertial Navigation Systems, Electronic Ammunition Fuses, Pressurised Missile containers, Critical Infrastructure Protection, Air Traffic Management Radars, Intelligent Traffic Management Systems, Solar Power Plants and Smart City elements for future business growth.