03:47 GMT +325 June 2018
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    The Hon’ble Defence Minister, Smt Nirmala Sitharaman, inaugurating the first Representative Office of BEL in Vietnam by handing over the symbolic key to Mr Gowtama M V, CMD, BEL, during the Vietnam-India Defence Industry Business Meeting held at Hotel Melia, Hanoi

    Indian Defense Firm Opens First Office in Vietnam to Explore East Asian Market

    © Photo: Bharat Electronics Limited
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    India aims to achieve a turnover of $26 billion in defense goods and services by 2025, including exports to the tune of $5 billion in the next seven years, according to the draft Defense Production Policy 2018 which was floated in March this year.

    New Delhi (Sputnik): In an attempt to capture the defense market in East Asia, India's state-owned firm and country's leading defense electronic company Bharat Electronics Limited (BEL) opened its first-ever representative office in Vietnam on Wednesday.

    "The Representative Office will aim to promote BEL's exports in areas such as Weapons Systems, Radar Systems, Naval Systems, Military Communication Systems, Electronic Warfare Systems, Combat Management System and Coastal Surveillance System," BEL said in a statement.

    BEL has expeditiously captured defense export markets in Southeast Asian countries such as the Republic of the Union of Myanmar, Indonesia, Malaysia, Thailand, and Philippines in the past few years.

    The company will also use the representative office to address export business opportunities and to provide product support and services to users in the region.

    BEL registered a turnover growth of 14% over the previous year which includes an export turnover of $26 million. It mainly exports products such as Coastal Surveillance System, CoMPASS, Advanced Composite Communication System, Electro-Mechanical parts, etc. BEL has been exporting products and services to countries such as the USA, Germany, France, Sri Lanka, Switzerland, Indonesia, Vietnam, Myanmar, Italy, Namibia, and Honduras. The firm claims that it had export orders of $92 million as of April 1, 2018; including the offset order of $35 million.

    The Indian government has been in discussions with several East Asian countries for the sale of the Akash missile system and several naval subsystems. BEL had successfully developed domestic RF Seekers for the Akash 1S missile system.

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    Tags:
    arms exports, defense capability, business cooperation, missiles, electronics, Nirmala Sitharaman, India, Vietnam
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