New Delhi, Jan. 29 -- Bharat Electronics Ltd (BEL) and Safran Electronics and Defense (SED), France, signed a Joint Venture Cooperation Agreement (JVCA) for the production of Highly Agile Modular Munition Extended Range (HAMMER) smart precision guided air-to-ground weapon in India, marking a momentous moment for the 'Make in India' initiative. The agreement confirms the two parties' willingness to incorporate a potential Joint Venture Company (JVC) in India. The JVC shall be formed as a private limited company with 50:50 shareholding. It will localise the manufacturing, supply and maintenance of HAMMER to meet the operational needs of Indian Air Force and Indian Navy.
Published by HT Digital Content Services with permission from Vayu Aeros...