Bharat Dynamics Limited (BDL) and Thales have signed a Teaming Agreement to work in partnership on the STARStreak Air Defence system with the support of both the Governments of India and the United Kingdom.
The Teaming Agreement was signed at a virtual ceremony held on 13th January 2021.
Mr N P Diwakar, Director (Technical), BDL, Mr Alex Cresswell, CEO Thales, in the UK and Mr Emmanuel de Roquefeuil, VP and Country Director, Thales in India, signed the agreement in the presence of Commodore Siddharth Mishra (Retd), Chairman and
Managing Director, BDL.
Mr Jeremy Quin, Minister for Defence Procurement, Government of UK and Mark Goldsack, Head of UK Defence & Security Exports, Government of UK graced the occasion.
BDL will become a part of the STARStreak global supply chain, providing the opportunity for export of the system to existing and future STARStreak Air Defence customers,
including the UK Armed Forces through this agreement.
BDL, as a part of its Global Outreach, is endeavouring to forge alliance with foreign companies to take the "Make in India" mission further.
Earlier, Thales and BDL have signed a 'Memorandum of Understanding' to assess the opportunity for the transfer of technology for STARStreak. The signing of this teaming agreement confirms a positive outcome from that exploration process.
Today's agreement will also provide opportunity for BDL to offer STARStreak missile system to the Indian Armed Forces with a minimum of 60% of indigenous content, as well as Design and Development of the system, qualifying it under the 'Make in India' programme.
The agreement also represents opportunity for industrial cooperation between UK and India and will facilitate for closer collaboration and co-development between industries of the two nations.
Commodore Siddharth Mishra (Retd), CMD, BDL, in his address stated that "partnership between Thales and BDL in this project with Transfer of Technology for STARStreak will create a new business opportunity for BDL and its Supply Chain Partners in India. BDL will be able to enhance its footprints in the export market in addition to domestic market with this new business opportunity." "The Government of India's 'Make in India' programme, the 'ease of doing business' and recent 'Atmanirbhar Bharat' initiatives have created a congenial ecosystem for the foreign OEMs to tie up with Indian Industries like BDL to establish the production facility in India," he added.
Mr Alex Cresswell, CEO, Thales in the UK stated that "Today's signing is a significant milestone for all parties concerned and look forward to Thales and BDL developing a close working relationship. He brought out that BDL manufactured system will be exported to various countries including UK. He noted that this is good news for Thales business in Belfast in Northern Ireland, for the strong supply chain of UK SMEs with whom it works and for its teams in India".
The STARStreak Missile System is in service in the British Army and has been procured by defence forces worldwide. The fastest missile in its category, STARStreak is unique due to its three laser-guided darts, which cannot be jammed by any known countermeasure. It has the capability to defeat any air target - even armoured helicopters - as the last line of defence.
Shares of Bharat Dynamics Ltd was last trading in BSE at Rs.347.9 as compared to the previous close of Rs. 337.6. The total number of shares traded during the day was 85025 in over 2971 trades.
The stock hit an intraday high of Rs. 355 and intraday low of 346. The net turnover during the day was Rs. 29766333.