Thales & Bharat Electronics form a joint venture in India.

Navratna PSU Bharat Electronics and French technology firm Thales today announced that Ministry of Corporate Affairs has approved incorporation of their joint venture company, BEL-Thales Systems Limited. "We are confident that our JV company will benefit from the significant technology transfers and support from Thales, and from the extensive industrial and design skills of BEL," Bharat Electronics Chairman and Managing Director SK Sharma said in a statement. This joint venture (JV) Company will primarily focus on the design, development, marketing, supply and support of civilian and select defence radars for India and the global markets.