Current Affairs - Business - Discussion

Bharat Electronics Limited (BEL), in partnership with Israel Aerospace Industries (IAI), has created a joint venture named BEL IAI AeroSystems Private Ltd. This venture is focused on providing long-term product support for the Medium Range Surface-to-Air Missile (MRSAM) systems used by India's defense forces. The collaboration highlights the ongoing partnership between the two companies and aims to enhance India's defense capabilities, aligning with the government's initiative of ‘Atmanirbhar Bharat’ (self-reliant India). The MRSAM system plays a critical role in countering aerial threats for various branches of the Indian armed forces.