The Ministry of Corporate Affairs has approved the formation of a new joint venture between Bharat Electronics Ltd. (BEL) and Israel Aerospace Industries (IAI).
The venture, named BEL IAI AeroSystems Pvt. Ltd., will focus on advanced aerospace technologies. BEL holds a 40% stake, owning 1,64,000 shares in the company. This joint venture is expected to enhance India’s defense capabilities and boost innovation in aerospace systems. BEL's stock closed at ₹285.05, reflecting a 2.83% drop. The approval marks a significant step in India's defense sector growth.