Bangalore, Nov 17: Public sector defence electronics major Bharat Electronics Ltd plans to increase thrust n exports of its products and solutions to Europe, Africa, south Asia and CIS countries. "We have set a target of Rs 500 crore in exports by 2006-07, up from last year's Rs 50 crore. There is an untapped market which we can address," BEL chairman and managing director Y Gopala Rao told reporters here.
BEL, he said, had its strengths in radar and sonars, communication equipment, electronic warfare equipment, opto electronics, tank electronics and specialised components.
"We will expand our product range and offer solutions to customers, instead of being component supplier," Rao said, adding that the PSU was increasing its research and development efforts.
He said BEL was planning collaborations with several foreign firms for jointly developing and marketing products to the world market.
"We have given (foreign firms) access to Indian market. Now is the time we are matured and have assimilated technology and can offer quality products and competitive prices to the global market," BEL director (commercial and MS) S C Khanna said.
BEL reported a revenue of Rs 2,570 crore last year and aims to double its turnover to Rs 5,000 crore by 2006-07.
BEL, whose 70 per cent revenues come from defence, has orders worth over Rs 7,000 crore and expects an additional Rs 3,000 crore order next year, according to company sources.
Bureau Report