Defence sector company Bharat Electronics bags orders worth Rs 2,673 crore

New Delhi [India], December 22 (ANI): Bharat Electronics on Friday announced it received orders worth Rs 2,673 crore collectively from Goa Shipyard Limited (Rs 1,701 crore) and Garden Reach Shipbuilders and Engineers (Rs 972 crore).
The orders entail supply of 14 types of sensors for use on Next Generation Offshore Patrol Vessels (NGOPV).
"This will have participation of electronics and associated industries including MSME, which are sub vendors of BEL. The Equipment manufactured by BEL are part of 'Atmanirbhar Bharat' program," the state-owned aerospace and defence electronics company said in a release.
The company had received additional orders worth Rs 86.15 crore pertaining to miscellaneous spares and services, the release added.
The state-owned company has bagged cumulative orders of worth Rs 25,935.15 crore till now in the current financial year 2023-24.
The shares of Bharat Electronics have risen about 75 per cent on a cumulative basis in 2023.
The central government has set the target of achieving indigenous defence manufacturing worth Rs 175,000 crore including defence exports of Rs 35,000 crore by the year 2024-25.
The government has taken several policy initiatives in the past few years and brought in reforms to encourage indigenous design, development and manufacture of defence equipment, thereby promoting self-reliance in defence manufacturing. (ANI)